Over at HousingDoom.com they had a recent article on the bust in Las Vegas real estate:

http://housingdoom.com/2007/02/08/las-vegas-single-family-housing-january/

Maybe you would also like to note rising inventories and falling prices in the Las Vegas area:

http://www.housingtracker.net/askingprices/Nevada/LasVegas-Paradise/