Vegas Real Estate Market Outlook 2025-2026: Key Developments and Predictions
The Las Vegas housing market is expected to experience moderate growth in 2026, according to recent forecasts. Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), predicts a 6% increase in existing home sales in 2025 and a further 11% increase in 2026 nationwide, with a corresponding rise in new home sales of 10% and 5% respectively [1].
In the Las Vegas Valley, the market has shifted from a seller's market to a more neutral environment, with sales activity slowing and new listings declining. However, this trend may reverse as inventory levels modestly increase. In May 2025, there were 3,553 new listings, a 15% increase from May 2024, and 6,646 single-family houses listed without offers [5].
The average home value in the Las Vegas-Henderson-Paradise area currently stands at $440,327, up 2.6% over the past year. Despite a significant 13.1% decrease from May 2024, prices have held steady from April to May, with a 0.3% increase. Zillow forecasts a 0.3% decrease in home values in Las Vegas by the end of August 2025, followed by a 0.4% drop from May 2025 to May 2026 [3][4].
Mortgage rates are anticipated to play a significant role in the housing market's trajectory. As of July 3, 2025, the national average for a 30-year fixed mortgage rate is around 6.67%. Zillow predicts that mortgage rates will average 6.4% in the second half of 2025 and drop to 6.1% in 2026 nationwide [2].
The stabilising Las Vegas housing market is unique due to factors like tourism, entertainment, migration patterns, and local economic activity, which can influence trends differently from national averages. While other Nevada markets, such as Reno, Fernley, Carson City, and Elko, are expecting similar or larger declines, Elko is the only market where prices are either stable or growing slightly [6].
In summary, expect Las Vegas housing prices to grow moderately in 2026, with improving affordability due to lower mortgage rates potentially increasing demand, balanced by slightly higher inventory levels. The market is stabilising rather than declining sharply, making 2026 a year of moderate appreciation and steady sales in the Las Vegas real estate sector [1][2][3][5].
References: [1] National Association of Realtors (NAR) [2] Zillow [3] Las Vegas Realtor [4] Las Vegas Review-Journal [5] RCG Economics [6] Nevada Independent
- Investors seeking growth in the real-estate portfolio may consider the Las Vegas market, projected to experience moderate growth in 2026, according to forecasts by the National Association of Realtors (NAR).
- Increased sales activity in the Las Vegas Valley, despite a shift from a seller's market to a more neutral environment, indicates potential opportunities for rental properties in the community.
- With the expectation of a 6% increase in existing home sales in 2025 and a further 11% increase in 2026, finance experts suggest that investors should monitor the Las Vegas real-estate market for possible investment opportunities.
- The shifting market trends, including modestly increasing inventory levels and steadying home prices, make the Las Vegas housing market an attractive location for both short-term and long-term investments.
- While other Nevada markets are anticipating declines, a unique factor in the Las Vegas market is its resilience, influenced by tourism, entertainment, migration patterns, and local economic activity.
- As mortgage rates play a significant role in the housing market's trajectory, investors should keep an eye on predictions for lower mortgage rates in 2026, which could increase demand for properties and further enhance growth potential.
- Despite a slight decrease in home values projected by Zillow by the end of August 2025, the overall prediction of moderate growth in the Las Vegas housing market offers potential for both rental and real-estate investment in the future.
