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2025 worst year for home sales in Southern Nevada since 2007, report says

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2025 worst year for home sales in Southern Nevada since 2007, report says


Home prices in Southern Nevada dropped from record highs to end 2025 and less homes sold last year compared with 2024.

Approximately 28,498 existing homes sold in the region last year, which is down almost 9 percent from the 31,305 homes that sold in 2024, according to trade association Las Vegas Realtors, which pulls its data from the Multiple Listing Service. This is the lowest number of homes sold in a year in Southern Nevada since 2007 right before the Great Recession.

The median sale price for a house sold in Southern Nevada in December was approximately $470,000, a 3.9 percent drop from November, according to LVR. By the end of December, LVR reported 6,396 single-family homes listed for sale without any sort of offer. That’s up 28.8 percent from one year earlier.

Despite a down year in sales, the local market did end on a high note.

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George Kypreos, president of Las Vegas Realtors, said he is optimistic the housing market could turn around this year. The LVR report noted that home sales in Southern Nevada have seen “peaks and valleys” in recent years, generally declining since 2021 when a record 50,010 properties sold.

“Although it was a relatively slow year for home sales, we’re seeing some encouraging signs heading into the new year,” said Kypreos in a statement. “Buyer activity locally and nationally is starting to improve. Home prices have been fairly stable, and mortgage interest rates ended the year lower than they were the previous year. Most trends are pointing to a more balanced housing market in 2026.”

Freddie Mac currently has the average price for a 30-year fixed-term mortgage rate at 6.1 percent. That mortgage rate has not gone below 6 percent since 2022.

The all-time high median home sale price in Southern Nevada was broken multiple times last year, and currently sits at $488,995 which was last set in November while the condo and townhome market has dropped substantially from an all-time high that was set in October of 2024 ($315,000) to $275,000 to end 2025.

Major residential real estate brokerages are mixed as to where the market will head this year as Zillow, Redfin and Realtor.com have all put out their 2026 projections, and they expect a similar market to 2025. Mortgage rates aren’t expected to drop enough next year to unlock the country’s housing market, new builds will continue to lag, and prices will remain relatively elevated.

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Realtor.com said in its report that it predicts a “steadier” housing market next year and a slight shift to a more balanced market. Redfin’s report says 2026 will be the year of the “great housing reset,” which means the start of a yearslong period of “gradual increases in home sales and normalization of prices as affordability gradually improves.”

Finally, Zillow said the housing market should “warm up” in 2026 with “buyers seeing a bit more breathing room and sellers benefiting from price stability and more consistent demand.”

Contact Patrick Blennerhassett at pblennerhassett@reviewjournal.com.



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Nevada

Court OK’s counting late-arriving mail ballots in Nevada, 29 other states

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Court OK’s counting late-arriving mail ballots in Nevada, 29 other states


LAS VEGAS (KTNV) — Nevada’s laws allowing the counting of mail-in ballots that arrive up to four days after Election Day — so long as they are postmarked by that date — is constitutional under a Monday ruling from the U.S. Supreme Court.

In a 5-4 ruling, justices upheld a challenge to a Mississippi law that’s similar to Nevada’s statute. Justice Amy Coney Barrett and Chief Justice John Roberts joined with the court’s three liberal members, Sonia Sotomayor, Elena Kagan and Katanji Brown Jackson, to uphold the law.

Conservatives Samuel Alito, Clarence Thomas, Brett Kavanaugh and Neil Gorsuch dissented.

The ruling affects 30 states, all of which allow some ballots received after Election Day to be counted. That includes Nevada, which allows ballots postmarked by Election Day to be received and counted up to four days later, and ballots without a postmark to be received and counted up to three days later.

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Plaintiffs in the case — including the Republican National Committee and the Mississippi Republican Party — had contended that federal laws referring to “elections” mean both the casting and counting of ballots, which they said must occur on Election Day.

“The federal election-day statutes do not preempt Mississippi’s law because the defining element of an ‘election’ has always been the electorate’s choice of candidate,” the case summary reads. “And a related federal statute — the Uniformed and Overseas Citizens Absentee Voting Act — confirms that while federal law dictates when ballots must be cast, state law governs when they must be received.”

In Nevada, critics have contended that late-arriving ballots erode confidence in elections, because they delay learning final election results for days and, in some close races, can change the outcome.

Gov. Joe Lombardo has called the weeklong wait for final, unofficial results “a national embarrassment.”

Plaintiffs in the case made similar arguments, but were turned away by the court: “Finally, plaintiffs policy arguments about election integrity and voter confidence are properly addressed to legislatures, not courts,” the case summary reads.

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Several attempts to require ballots to be received by Election Day have been introduced in Nevada’s Legislature, but none have been successful in the Democratically controlled body.

Secretary of State Cisco Aguilar has argued that the overwhelming majority of ballots are in and counted by Election Day, and only the closest races may be changed by late-arriving ballots. He’s advocated for more resources for county clerks and voter registrars to be able to count mail ballots more quickly.

Under the ruling, nothing will change for Nevada voters going to the polls in four months to vote in the November election. But officials still encourage voters to send in their mail ballots early, or to put them in drop boxes at voting centers during early voting or on Election Day.

Supreme Court upholds late-arriving mail ballots in Mississippi

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One dead, four hospitalized after head-on crash on I-15 in Clark County

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One dead, four hospitalized after head-on crash on I-15 in Clark County


LAS VEGAS (FOX5) — Nevada Highway Patrol responded to a two-vehicle crash on Interstate 15 near mile marker 94 Sunday evening.

The crash was reported at 6:43 p.m. on June 28.

MORE ON FOX5: Driver sustains life-threatening injuries in Las Vegas multi-vehicle crash

A passenger sedan and a pickup truck were involved in the crash. One vehicle was traveling southbound, lost control, crossed through the median, and struck the other vehicle head-on in the northbound travel lane.

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One adult male died at the scene. Two people were transported by ground ambulance, and two others were transported by life flight to a local hospital.

Road closures

All northbound I-15 travel lanes were closed at mile marker 94, but have since opened as of Sunday night.

Nevada Highway Patrol said further information will be provided following the preliminary investigation.

Copyright 2026 KVVU. All rights reserved.



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Officials elevate response efforts to combat eastern Nevada wildfires

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Officials elevate response efforts to combat eastern Nevada wildfires












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