Housing Inventory Surges Dramatically
Las Vegas has experienced a striking 77.6% year-over-year increase in housing inventory, surpassing all other U.S. markets.(turn0search1, turn0news16)
- Retirees and Investors Driving the Flood of Listings
A major source of new listings comes from retirees over 55 leaving the area, motivated by factors such as summer heat or relocation, alongside investors cashing out on recent equity gains.(turn0news16, turn0search6)
- Buyer Demand Slows Amid Market Uncertainty
High mortgage rates and affordability challenges have cooled buyer activity. Many potential buyers are adopting a “wait-and-see” approach, further slowing sales.(turn0search1, turn0news16)
- Market Still Technically Favours Sellers—With Adjustments
Despite the listing surge, Las Vegas remains a seller’s market, featuring a median listing price near $480,000 and approximately 3.6 months of inventory supply. However, sellers are increasingly making concessions or dropping prices to stay competitive.(turn0search1, turn0news16)
- Potential for Rapid Market Rebound
Local experts note that Las Vegas markets can shift quickly—a drop in interest rates could spark renewed demand, turning the market upward in a matter of weeks.(turn0news16)