Development Activity Slows
Author: Diana Heeb Bivona
The Development Activity Index (DAI), an index that tracks development activity in Southern Nevada, reported a decline in regional development for the second straight quarter. The DAI measures changes in the real estate development pipeline. The DAI now stands at 153.7. At its high, it was at 157.8.
Brian Gordon, a principal with Applied Analysis, which maintains the DIA, is quoted in a recent GlobeSt article as saying, “The slowing amount of development activity can be attributed to a softer housing market, a shrinking amount of developable acreage and the higher cost of vacant land. Although the DAI remains high, we anticipate this number to continue to fall through the first half of 2007.”