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.

SANTA FE, N.M. — Former New Mexico Public Regulation Commissioner Jim Ellison is running for governor as a Republican, he announced on social media Tuesday.

Ellison is running on affordability, opportunity and trust in government as the key points of his campaign. His experience includes serving on the NMPRC in 2023 and 2024.

“New Mexico deserves leadership that listens, acts, and delivers results. Our state has enormous potential, but too often that potential is held back by policies that don’t serve everyday New Mexicans,” he said on his website. “I’m running to bring practical solutions, honest accountability, and a renewed focus on the public interest.”

A Georgia native, Ellison has lived in New Mexico for 20 years and currently lives in the Albuquerque area with his wife and two children.

Ellison is aiming to get 5,000 signatures by Feb. 2, to appear on the primary ballot with at least three other Republicans who have announced their candidacy.

Ultra Health CEO Duke Rodriguez announced his campaign in December and recently confirmed to KOB 4 that he received enough signatures to appear on the primary ballot. Rio Rancho Mayor Gregg Hull and New Mexico State Sen. Steve Lanier are also running.

Three Democrats are running – Bernalillo County District Attorney Sam Bregman, Former Interior Secretary Deb Haaland and Former Las Cruces Mayor Ken Miyagishima.

PORTLAND, Ore. (KATU) — The 100 Oregon National Guard troops who were federalized under Title 10, have begun demobilization activities, according to Governor Kotek’s office and U.S. Northern Command.

CONTINUING COVERAGE | Oregon National Guard troops deployed under Title 10 orders

“All Title 10 troops in Portland, Los Angeles, and Chicago are conducting demobilizing activities. They will return to their home units once their demobilization is complete,” U.S. Northern Command stated on their website.

Oregon Governor Tina Kotek released a statement reading in part, “The citizen-soldiers of the Oregon National Guard are our neighbors, friends, and family. These courageous Oregonians deserve certainty and respect. While I am relieved that all our troops will finally return home, it does not make up for the personal sacrifices of more than 100 days, including holidays, spent in limbo.”

The troops will travel to Fort Bliss, Texas to finish their demobilization before returning home to Oregon.

Oregon troops spent a majority of their time training at Camp Rilea on the Oregon Coast.

Read Governor Kotek’s full statement below:

“The citizen-soldiers of the Oregon National Guard are our neighbors, friends, and family. These courageous Oregonians deserve certainty and respect. While I am relieved that all our troops will finally return home, it does not make up for the personal sacrifices of more than 100 days, including holidays, spent in limbo.

“During this crisis, Oregonians stood united against the unwanted, unneeded, unconstitutional military intervention in our state, with thousands peacefully voicing their opposition to the Trump Administration’s abuse of power.

“President Trump’s disregard for the facts on the ground revealed that he is more focused on provoking a fight in cities and states that don’t share his politics than serving the American people. I remain committed to defending our values and the rule of law.”

The court injunction that prevents guard deployment in Oregon remains in effect and on appeal in the Ninth Circuit Court of Appeals.