Las Vegas Homebuilders Dialing Back Construction Plans Amid Slowing Sales
LAS VEGAS, NV – Home builders in Las Vegas are starting to slow down their construction plans and output amid a dip in sales that is being attributed to both high prices and high interest rates on home mortgages in Southern Nevada.
According to a newly-released report by Las Vegas-based Home Builders Research, in Las Vegas in April 2025 there were only 766 net sales – that is, sales contracts that were newly signed, not including cancellations – which represents a year-over-year decrease of 29 percent.
Meanwhile, the houses in question were sold for a median price of $529,833, which is a jump of 8.1 percent from April 2024.
What makes this decrease in sales especially significant is that it occurred during what is normally the busy spring buying season, which Home Builders Research President Andrew Smith said is an unusual development for the region.
The market is steadily slowing week to week lately, unexpected for this time of year,” he said in the report, adding that net sales over the course of 2025 so far “continue to underwhelm” when compared to the same period of time last year.
Another issue, Smith added, is that homebuilders have been repeatedly increasing their base asking prices. This is causing a trickle-down effect upon the local market, as higher prices are causing fewer buyers to take the plunge, and with fewer buyers, builders are scaling their plans back.
As a result, builders are pulling less permits; Smith noted that last month there were just 978 permits issued for new homes in Las Vegas, which is a drop of 19 percent when compared to April 2024.
Basically, buyers are becoming leery of investing the money it takes to purchase a home – both in Las Vegas and nationwide – due to high prices, high mortgage rates, and the overall economic uncertainty that is currently gripping the country.
Shelter Realty Property Management specializes in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.
Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management