Questioning Land And Construction Prices In The Valley

People in the local real estate market are wondering if land prices are affecting the valley’s growth. Some argue that Las Vegas is moderating its own growth because of the effect land prices are having on the real estate, including condo pricing.

John Restrepo, board member of the National Association of Industrial and Office Properties, says that because of the increase in land prices developers from residential and commercial projects are reevaluating their projects.

Others argue that land prices aren't having the effects on the condos that Restrepo and others like him think. They say that the market is adjusting and that if there is something to be concerned about it should be the effects of construction costs on the real estate prices.