Nevada
Nevada lawmakers project $190 million decline in revenue projections
LAS VEGAS, Nev. (FOX5) – Nevada lawmakers are raising the red flag on having $190 million less in revenue than previously projected.
The Nevada State Legislature held an Economic Forum meeting Thursday where the decline in revenue over two fiscal years was announced.
State fiscal analysts attribute the decline to decreasing tourism and spending, higher than expected inflation, and slowing growth in both wages and the real estate market.
Many democratic lawmakers are pointing the finger at Trump’s tariff policies.
One lawmaker tells FOX5 that the forum has become a “reality check” on every lawmaker’s wish list and a reminder that every bill costs money.
“The combination of the Trump tariffs and the DOGE cuts to vital programs like Medicaid are putting Nevadans at risk,” Congresswoman Titus said. “We are being asked to fill the gaps left by federal cuts to services while the Trump tariffs are damaging our economy and shrinking state revenues.”
Lawmakers say the key findings of the new numbers account for decreasing tourism and spending, higher than expected inflation, and slowing growth in both wages and the real estate market.
The impact of tariffs is still up in the air.
Governor Lombardo’s office has released a statement on the matter which says in part,
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Nevada
Centennial vs. Liberty: Watch Nevada girls high school basketball showdown live
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The defending 5A state champion Centennial Bulldogs (7-3) open conference play with a challenging road test Wednesday night when they travel to Henderson to face the Liberty Patriots (10-7) in a Nevada 5A Southern basketball clash.
Coach Karen Weitz’s Bulldogs, seeking their second consecutive state title, will rely on their formidable frontcourt duo of forwards Nation Williams and Inieye Oruh, complemented by standout guard Sanai Branch. They will face a Patriots squad that has shown marked improvement under head coach Lorenzo Jarvis, powered by senior leaders Samantha Chesnut and Kiana Harworth alongside junior standout Neviah Nick.
With Liberty’s home court advantage potentially neutralizing Centennial’s championship pedigree, this early conference matchup could set the tone for both teams’ title aspirations in the competitive 5A Southern division.
Opening tipoff is set for 6:30 p.m. PT on Wednesday, January 7 with a live TV broadcast on NFHS Network.
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How to watch Centennial vs. Liberty basketball livestream
What: Defending champ Centennial faces resurgent Liberty in 5A Southern showdown
When: Tipoff is set for 6:30 p.m. PT on Wednesday, January 7
Where: Liberty High School | Henderson, Nevada
Watch live: Watch Centennial vs. Liberty live on the NFHS Network
Nevada
Tahoe man loses $20K at Nevada casino and threatens to bomb facility before arrest, police say
Nevada
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.
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.
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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