There is a small senior complex not far from me similar to this that is really struggling to fill empty units simply because of population decline.  

Others have been in decline for a while.

If the seller declines, encourage them to hold onto your contact information in case things change and follow up every few weeks to reiterate your interest.

The fundamentals of Las Vegas market will drive prices and rents higher over time:- Land shortage - The population increases by 2% to 3% per year, and the available land for new development is rapidly declining.

While occupancy and rates are declining vs. the last couple of years. 

I'll continue my search anyhow, I'm hopeful home prices will start to decline as we move through 2023 and some deals will be had. 

IMO, a slow decline is the problem.  

.* Majority of cities had a population growth of about 0.5% in the first half of the 2010s* All cities have a trend of decreasing population growth* Springfield had a small growth in the first half of 2010s (population is 154620 people in 2015) and in the second half of 2010s, its population declined (population 152646 in 2020).* In 2018 population in Newton City and Lower City started to decline.

Historically, those areas declined the most during the last downturn.

@Jason this article is addressing the decline in a Muncie, Bloomington and Terre Haute (Indiana college towns). https://www.tribstar.com/news/...