10/06/2026
Prices came down in September. Buying still got more expensive.
The median single family home in Southern Nevada sold for $470,000, down 1.1% from August and exactly flat against September of last year. That is $20,000 below the record set in May and June.
But the 30-year fixed rate went from 6.71% on September 3 to 7.28% on September 30, crossing 7% for the first time since January 2025. On a $470,000 home with 20% down, that move added roughly $145 to the monthly payment. Prices gave buyers $5,000. Rates took more than that back.
Inventory tells the other half of the story. Valley-wide active listings topped 10,000 for the first time in more than a decade. Single family homes sitting without an offer reached 7,995, up 6.6% from a year ago, and supply moved to five months. A year ago it was four.
Sales followed. Single family closings were down 7.4% year over year, total sales volume down 10.3%, with 2,169 total closings across all property types.
George Kypreos, President of Las Vegas REALTORS, put it this way: “Recently rising mortgage rates are playing a bigger role in the housing market.”
For sellers, you are competing with more homes than at any point in ten years. For buyers, you have more choices and more negotiating room than you have had in years, but the window on today’s payment is narrower than the window on today’s price.
Want to know where your home fits in this? Contact us today
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