ROAD TO RECOVERY

You’ve gotten word of Las Vegas’ stabilizing housing market. Now you’re in the mood for an industrial chandelier. Or, an abstract painting of Abraham Lincoln by a local artist. Or, a $50,000-plus interior decoration makeover.

Your destination: Inside Style, at 1119 S. Main St., in the 18b Las Vegas Arts District. Jill Abelman, coowner of the luxury-end biz and its building, reigns over the pillow-happy boutique interior decorating firm. An appropriate fixture in her domain is a painting dubbed “The Queen,” by local muralist/artist CJ the Kid.

The local housing market hasn’t mistreated Abelman’s business, even during the Great Recession, she said. Citing “a definite demand for the higher-end, luxury home,” she explained, “we’ve been in business since 2004, and we’ve just seen a steady climb each year.”

But not all local businesses are cashing in, even as the well-off revamp outdated 15-year-old finishes from their upper end homes across the valley.

John Restrepo, principal of RCG Economics LLC, said that’s a function of stagnant working class and middle class wages.

“The top tier households, the one percenters, will come out of the recession much stronger because they don’t depend on just wages,” he said.

The Las Vegas housing market is stabilizing, he added, “in the sense that the prices aren’t going down. We could enter an area of an affordability issue. We’re not there yet.”

With construction costs rising and a supply shortage possibly in the wings, he said, housing prices in the valley have risen, with the combined median price of resale and new homes at about $205,000 by the end of 2015. In the last vintage of pre-recession days, circa 2006 to 2007, that median rose

JEFF SCHEID/LAS Ken Bagwell, left, general manager of Everest Construction LLC, and Will Dellaechaie, president of Summit Restoration Inc. and managing member of Everest Construction, discuss a project. Bagwell said he’s noticed people deciding to “loosen up” their...