Page 2 - Las Vegas LVQR Market Research Report Q1 2024

Economy
Las Vegas 24Q1 Key Takeaways
Southern Nevada’s unemployment rate was 5.2%
Home sales saw improvement compared to 2023
Taxable sales had annual growth of 5.3% in Jan 2024

YOY YOY YOY YOY
Employment Visitor Volume Investment Sales Home Sales
1.13M FORECAST 3.38M FORECAST $256M FORECAST 5,263 FORECAST

A Good Beginning, But Not Perfect

The first quarter of 2024 was a good, but not perfect, beginning to the new year. Many economic statistics were positive, and
suggest a growing economy. Some statistics, however, point to potential problems down the road. While local employment
continued to grow, unemployment grew as well and taxable sales did not have the growth it has enjoyed in the past few years.

Market Indicators Market Graph

6.74% 2.85% 4.192% 1,200,000 12.0%
Unemployment GDP - Quarterly % U.S. 10 Year
Rate change yr/yr Treasury Note
1,100,000 10.0%
Historic Comparison
1,000,000 8.0%
2022 2023 2024
900,000 6.0%
Employment
(Jan; Thousands) 1033.9 1097.3 1134.8 800,000 4.0%
Visitor Volume YTD 2.47 3.28 3.38 700,000 2.0%
(Jan; millions)
600,000 0.0%
Gaming Revenue YTD $0.93 $1.13 $1.12 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
(Jan; $BB)
2021 2022 2023 2024
Taxable Sales YTD $4.40 $4.90 $5.16 Employment Unemployment Rate
(Jan; $BB)

Commercial+Industrial 95.3% 95.9% 94.3% Employment growth in Southern Nevada saw a boost in the
Occupancy (Q1) second half of 2023 that is largely lost in the first quarter of 2024

Investment Sales
(YTD; $MM) $1256.8 $286.2 $255.8

Business Expansion

Logistics Logistics Financial Wholesale Hospitality Manufacturing
Active Logistics
Dupre Logistics
Colliers | Salt Lake County| 21Q1 | Office Report Village Capital PGM of Texas Casino Discount Products Discount Forklift
Lafayette LA Elk Grove Village IL Henderson NV San Marcos TX Henderson NV Las Vegas NV
68,000 sf 35,000 sf 32,000 sf 30,000 sf 21,000 sf 21,000 sf