Category Archive : Market Updates

LAS VEGAS, NV – Cleveland-based apartment developer NRP Group has announced that they are actively working on several projects in the Las Vegas Valley – including both affordable-housing and luxury complexes – in an effort, they say, to address ongoing housing shortages in Southern Nevada.

According to NRP Vice President of Development Mike Moriarty, while there are upscale projects on his company’s table, they are especially focusing on the current lack of nearly 78,000 affordable and available rental homes for extremely low-income tenants in Vegas.

“There’s an extreme lack of affordable units here,” Moriarty said, a life-long Las Vegas resident who will be personally overseeing the company’s developments here.

The first two NRP projects are scheduled to break ground later this month; one will take the form of an upscale 390-unit complex in the southwest valley between Durango Drive and Cimarron Road, and other will be a 105-unit affordable housing project in North Las Vegas on Pecos Road.

Emphasis is being placed on not just what NRP is developing, but where; the upscale southwest valley project is on a 7.8-acre plot of land next to UnCommons, a huge mixed-use facility with apartments, offices, restaurants, and entertainment options, as well as being near the Durango hotel and casino, ensuring that residents will have plenty to do during their off-time.

Rental rates would be $2.50 to $2.60 per square foot, and there will be a number of high-end finishes and amenities for tenants, including indoor bicycle storage with a repair station, an indoor pet wash, and more.

As for the North Las Vegas project, the affordable housing complex – dubbed North & Valley – will be offering units to residents earning between 50 and 60 percent of the Area Median Income (AMI), and will take the form of two four-story buildings with a mix of one, two, and three-bedroom residences.

The first units of these projects are slated to be available to rent by the first quarter of 2026.

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

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

www.shelterrealty.com

LAS VEGAS, NV – Las Vegas homeowners are growing increasingly frustrated with Clark County’s sluggish short-term rental licensing process, especially in light of the fact that the municipality admitted earlier this year that they were processing a mere six applications a week.

While many people are being forced to wait literally years for their licenses, they are finding themselves out thousands of dollars and being forced to deal with ever-growing amounts of stress and uncertainty along the way.

The situation has gotten so bad that a lawsuit was brought against the Clark County by the Greater Las Vegas Short-Term Rental Association (GLVSTRA) and Airbnb; recently, a judge granted an injunction blocking the rollout of the county’s rules governing Airbnb rentals while the case proceeds through the court system.

Assembly Bill 363 was signed into law by the Nevada legislature in 2021, requiring municipalities to draw up regulations governing the short -term rental industries within their borders.

After approving a short-term rental ordinance in June 2022, Clark County had started a pre-application process for short term rentals in September 2022, with the deadline for submission having been August 2023. 1,169 of the pre-applications they received were deemed eligible and the homeowners that submitted them were subsequently allowed to submit a short-term rental license application.

However, the process of approving these applications has been a slow and arduous one that has found itself ensnared in red tape; this was made worse by the county’s decision to implement a lottery instead of a first-come, first-served system, meaning that applications are processed in random order, and not when actually submitted. As a result, hundreds of applications are still pending years after having been submitted.

Meanwhile, homeowners who are mired in the process are being forced to wait and endure continued expenses; Michael Watson has been told that he was number 382 in the lottery process, and that by the county’s estimates he may still not experience any forward momentum for at least the next three months, if not longer.

Even if I get to that point, I’m not even certain what’s next,” he said. “They haven’t given us any indication that once your lottery number comes up, what might be the next steps after that and how long might that step take in addition. Waiting three years and having to keep this location, keep the insurances, it’s becoming more and more difficult to sustain and to see at what point might you see the light at the end of the tunnel.”

State law mandates that homeowners maintain expensive home insurance and pay annual business license fees, even if the residence in question has not yet gotten their license.

$6,000 or $7,000 in that process, kind of the mandatory elements, but also the other elements I spent money on: the design, getting the Airbnb completely remodeled,” Watson said. “There was a lot more than that invested and the idea that any business could establish a location, completely set up shop and then wait indefinitely, right now we’re at three years, to open its doors, it’s not possible.”

The random drawings for license approval are also breeding additional headaches, such as distance requirements; county ordinances decree a minimum distance between rentals, but a homeowner is not informed of what locations have been approved until they are already in the application process…at which point they may discover, too late, that there is a rental right next door.

During the initial lottery period, 1,306 applications were submitted, with 830 of those having been submitted during the application period. Since then, only 203 licenses have been approved and issued, along with 315 denied or withdrawn. 312 are still pending.

Clark County’s ordinance states that lotteries should take place annually, but they have not held one since 2023; they did not respond for comment as to why when asked by local media.

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

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

www.shelterrealty.com

LAS VEGAS, NV – A new report by Las Vegas Realtors (LVR) reveals that home prices in Las Vegas showed a slight drop in August when compared to the all-time record high level they hit once again the month before, potentially signaling the return of stability to the Southern Nevada real estate market, despite the fact that the region’s inventory continues to climb.

LVR noted that the median price of an existing single-family home in the Las Vegas Valley in August was $480,000, which represents a drop of $5,000 from the all-time record high of $485,000 achieved several times in 2025, most recently in July; August’s median price is also a 0.7 percent increase year-over-year.

Meanwhile, the median price of condominiums and townhomes sold in the valley in August was $298,000, which represents a 2.1 percent year-over-year increase, but a significant drop from the region’s all-time record originally set in October 2024, which was $315,000.

Las Vegas Realtors President, George Kypreos, said in a statement that the numbers recorded in August distinctly show that the residential real estate market in Southern Nevada is returning to a more even level between buyers and sellers.

These statistics are another sign of stability in our local housing market,” Kypreos said. “Home prices here in Southern Nevada haven’t moved much this year. Besides having more homes on the market to choose from, buyers should also be pleased to see mortgage interest rates going down this month.”

However, inventory in Vegas continues to climb amid sluggish sales, with 7,206 single-family homes listed at the end of August without any offers, LVR says, a 36.8 percent jump year-over-year. In addition, there were 2,560 condos and townhomes without offers, a 56.1 percent jump from August 2024.

2,320 existing homes, condos and townhomes were sold in August, a year-over-year drop of 14.2 percent for homes and 15.4 percent for condos and townhomes.

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

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

www.shelterrealty.com

LAS VEGAS, NV – Renting in Las Vegas in 2025 offers both opportunities and challenges for tenants, young professionals, and newcomers to the city. Known for its vibrant lifestyle, favorable tax environment, and growing job market, Las Vegas continues to attract residents from across the country. However, as with any growing metropolitan area, the rental market is shaped by evolving trends in pricing, availability, and regulations. Understanding these dynamics is essential for anyone considering a move to the Vegas Valley or renewing their lease this year.

This guide will help you navigate the rental landscape in Las Vegas by exploring current market trends, average rent prices, renter rights, short-term rental laws, and affordability factors. Whether you are searching for your first apartment, relocating for work, or simply interested in the state of the market, the insights here will give you a clear picture of what to expect. For even more localized information and tenant resources, you can visit our Las Vegas Renter Information page.

The Rental Market Landscape in 2025

Las Vegas has long been considered one of the more affordable major cities in the western United States, but recent years have seen steady increases in rental rates due to population growth (Much from neighboring California), housing demand, and economic expansion. While developers have introduced new apartment complexes and mixed-use communities, the influx of residents has kept occupancy high.

Many neighborhoods are experiencing revitalization, and areas such as Downtown Las Vegas, Summerlin, and Henderson have seen significant upgrades to infrastructure and amenities. This growth has been beneficial for renters seeking modern housing options, but it has also pushed average rent prices upward. The key to securing a good deal in 2025 is to act quickly when a desirable property becomes available and to understand which neighborhoods match your budget and lifestyle needs.

Average Rent Prices in Las Vegas for 2025

The average rent in Las Vegas in 2025 varies based on location, property type, and amenities. Downtown and the Arts District tend to command higher rents due to proximity to entertainment, nightlife, and cultural attractions. Summerlin and Henderson offer more suburban lifestyles with larger properties and higher price points, while North Las Vegas remains one of the more affordable options for larger units.

For studio and one-bedroom apartments, rents remain competitive compared to other major cities in the region, but they have risen compared to pre-2020 averages. Two-and three-bedroom rentals are in particularly high demand among families and roommate households, which means that properties in good condition with modern features often get leased within days of listing. Renters looking for the best value in 2025 may want to consider emerging areas such as the southwest valley, where development is ongoing but prices have not yet reached their peak.

The affordability of a rental property should be evaluated in the context of utilities, parking fees, and any additional community charges. This holistic approach ensures that you understand the full monthly cost of living in your chosen property.

Renter Rights and Protections

Renting in Las Vegas comes with specific rights and protections under Nevada state law. Tenants are entitled to safe and habitable living conditions, proper notice before rent increases or lease terminations, and the return of their security deposit within the required timeframe after moving out, provided the unit is left in good condition. Landlords must follow legal procedures when entering a rental unit, addressing repairs, or initiating eviction proceedings.

In 2025, awareness of these rights is more important than ever, especially given the competitive nature of the market. Tenants should review their lease agreements thoroughly before signing and be prepared to ask questions about maintenance responsibilities, late fee policies, and renewal terms.

Short-Term Rental Laws in Las Vegas

Short-term rentals, such as those listed on Airbnb or Vrbo, remain a popular option for property owners and travelers alike, but they are subject to specific regulations in Las Vegas. Clark County, the City of Las Vegas, and the City of Henderson each have their own distinct rules governing permits, occupancy limits, and zoning restrictions. In many cases, operating a short-term rental without the proper licensing can result in significant fines; one case in the City of Las Vegas reached $180k.

For renters, it is important to understand whether a property is legally permitted for short-term stays, especially if you are subletting or considering a flexible lease that allows temporary hosting. Regulations have been updated in recent years to balance the needs of residents, property owners, and the tourism industry, so staying informed about these laws is essential. Shelter Realty provides guidance for those navigating both long-term and short-term rental agreements in compliance with local laws.

Affordability Considerations for Renters

Affordability in Las Vegas is relative. While rents are lower than in cities like Los Angeles or San Francisco, they have increased enough in recent years to challenge some budgets. Renters in 2025 should carefully consider total housing costs, which include rent, utilities, transportation expenses, and lifestyle costs such as dining, entertainment, and recreation.

Choosing the right neighborhood can have a significant impact on affordability. Areas farther from the Strip and the city center tend to offer larger properties for lower rent, but may come with longer commutes. Newer apartment complexes may include desirable amenities like gyms, pools, and security features, but these often come with higher rents and additional fees. For those new to the city or moving within the Valley, scheduling a consultation with a local rental expert through the Shelter Realty Contact Page can help identify the most cost-effective housing options that align with your needs.

Lifestyle Factors to Consider When Renting

Renting in Las Vegas offers a wide range of lifestyle choices, from high-rise living with sweeping views of the Strip to quiet suburban communities with parks and walking trails. Young professionals may gravitate toward Downtown and Midtown, where nightlife and cultural events are abundant. Families often choose areas like Henderson or Summerlin for their excellent schools, safety, and community amenities. Retirees and remote workers may prefer quieter neighborhoods with easy access to golf courses, shopping centers, and healthcare facilities.

Your choice of neighborhood should reflect not just your budget, but also your preferred lifestyle, commute times, and proximity to the amenities you value most. With Las Vegas continuing to expand outward, there are more choices than ever before for renters in 2025.

FAQs

1. What is the average rent in Las Vegas in 2025?
The average rent depends on the neighborhood and property type, but it remains competitive compared to other major western U.S. cities while trending upward from previous years. See Local Rental Market Report: How Much Can Homeowners Expect for Rent? (September)

2. Are there rent control laws in Las Vegas?
Nevada does not have statewide rent control, but landlords must provide proper notice before increasing rent or changing lease terms.

3. How competitive is the rental market in 2025?
The market is competitive, with high demand across all property types, especially in well-located neighborhoods and modern apartment complexes.

4. What should I know about short-term rentals?
Short-term rentals are legal in certain areas but require permits and adherence to local regulations. Always confirm that a property is properly licensed before renting.

5. How can I find the most affordable rental in Las Vegas?
Working with a local expert such as Shelter Realty can help identify neighborhoods and properties that offer the best balance of affordability, amenities, and location.

6. What rights do tenants have in Las Vegas?
Tenants have the right to safe and habitable housing, timely repairs, and proper notice before rent increases or lease terminations.

7. Can I negotiate my rent in 2025?
While possible, rent negotiations are more challenging in a competitive market. Strong references and longer lease commitments can improve your chances.

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.

Joe Mcdermott

Joe Mcdermott is a journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Mcdermott helps keep a keen-eye on what’s happening in the Las Vegas Nevada community on behalf of Shelter Realty Inc.

LAS VEGAS, NV – Las Vegas Valley property owners have experienced a whopping 28 percent spike in notices of default (NODs) year-over-year, but experts are telling residents “don’t worry” when it comes to the overall residential real estate market, saying it is simply fallout from the economic woes much of the nation is experiencing right now and not anything exclusive to Southern Nevada.

As per a new report released by the University of Nevada, Las Vegas’ (UNLV) Lied Center for Real Estate, the rise in NODs in Las Vegas is a sign that a greater number of low-income residents are encountering growing financial hurdles when it comes to making their monthly mortgage payments.

Since January 2022, approximately 5,400 NODs have been issued to property owners in Vegas, the UNLV report reveals; almost 25 percent of those defaults have taken place in the first half of 2025 alone.

According to UNLV department of economics professor and Lied Center research director Nicholas Irwin, the areas that are feeling the impact of increasing NODs are mainly east and southwest Las Vegas and North Las Vegas.

If you overlaid a map of poverty rates or you overlaid a map of per capita income, these would be areas that generally have lower income, higher poverty,” he said. “So, it’s not unexpected that, if the economy tends to worsen a little bit, these are probably going to be the areas that are going to be first responding to something through an increase in defaults and potential foreclosures.”

But for Southern Nevada residents who may be breaking out in a cold sweat when the current situation reminds them of the mid-2000’s housing crash, Irwin – as well as other real estate experts – is telling them not to worry, as the two situations are far removed from one another.

“This isn’t 2008. We’re not seeing 6,000-plus [NODs] a month being filed,” he said, noting that while defaults are rising in the valley, they are nonetheless nowhere near the historic levels they reached when the housing bubble burst over a decade-and-a-half ago; he also pointed out the fact that just because a NOD is issued, it doesn’t mean that it will actually end in a foreclosure.

As for the next year, Irwin said that depends on what happens with mortgage rates, and if more affordable housing is built in the region.

“So, it’s kind of a wait-and-see approach, I guess, for homebuyers and home sellers,” he said.

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

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

www.shelterrealty.com

LAS VEGAS, NV – A new affordable housing community in North Las Vegas – the first of its kind in the city – has been announced by the NRP Group, a developer, builder, and manager of multifamily housing.

The groundbreaking of the community – dubbed North & Valley – is scheduled to take place later this September. The development is slated to take the form of 105-units at 6555 North Pecos Road on a five-acre plot of land located in Clark County, right next to a medical office campus and job center.

North & Valley will be offering units to residents earning between 50 and 60 percent of the Area Median Income (AMI), and will take the form of two four-story buildings with a mix of one, two, and three-bedroom residences. The project is notable as there are very few affordable housing communities in the area – and in particular North Las Vegas – that cater to the needs of low-income families and working professionals.

NRP Group Vice President of Development Mike Moriarty noted that North & Valley will address the very real need for affordable housing in North Las Vegas.

Las Vegas is one of the fastest-growing regions in the country, yet housing supply hasn’t kept up with demand, especially for working families,” Moriarty said. “This project marks NRP’s first affordable housing development in Las Vegas, and we’re proud to bring our 30 years of experience creating high-quality communities to the region. As Las Vegas continues to experience explosive population growth and a deepening housing crisis, we’re committed to being part of the long-term solution.”

Moriarty also noted that the community – despite its entry-level price point – will nonetheless offer resort-style amenities to its tenants, including a swimming pool, a rooftop terrace lounge on the fourth floor with scenic views, and an outdoor playground. In addition, inside each unit, tenants will have stainless steel appliances, quartz countertops, designer cabinetry, wood-style flooring, and connections for washer and dryer setups.

Completion of development for North & Valley is scheduled for April 2027.

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

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

www.shelterrealty.com

LAS VEGAS, NV – A judge has granted a temporary injunction blocking the rollout of Clark County rules governing short-term rentals while a lawsuit brought against the municipality by the Greater Las Vegas Short-Term Rental Association (GLVSTRA) and Airbnb proceeds through the court system.

The rules were originally set to go into effect on Monday, September 1, and would have mandated Airbnb to oversee the listings on its platform and take down the ones that fail to adhere to county licensing rules. Those operating unlicensed short-term rentals would have faced fines of $500 for a first offense and $1,000 for subsequent violations.

The injunction was issued by U.S. District Judge Miranda Du late last week “pending a final decision on the merits” of the lawsuit against Clark County, while noting that her decision was dictated by the limited immunity for online platforms that is granted by a federal provision.

Because Plaintiffs have shown that they are likely to succeed on the merits of their Section 230 claim and that they will be irreparably harmed absent preliminary injunctive relief, the Court necessarily finds that the balance of equities tips in their favor and that such relief serves the public interest,” Du said.

Airbnb called the ruling a “win for everyday Nevadans.”

The GLVSTRA/Airbnb lawsuit alleges that the plaintiffs’ Third, Fourth, Fifth and 14th Amendment rights – as well as several sections of the Nevada Constitution – are being violated by Clark County’s preventing of residents from exercising their right to lease their properties, depriving them of their livelihoods. The county’s extraordinarily slow process of issuing permits to renters – in addition to numerous burdensome regulations – is also a bone of contention named in the lawsuit as well.

Assembly Bill 363 was signed into law by the Nevada legislature in 2021, requiring municipalities to draw up regulations governing the short-term rental industries within their borders.

After approving a short-term rental ordinance in June 2022, Clark County had started a pre-application process for short term rentals in September 2022, with the deadline for submission having been August 2023. 1,169 of the pre-applications they received were deemed eligible and the homeowners that submitted them were subsequently allowed to submit a short-term rental license application.

However, the process of approving these applications has been a slow and arduous one that has found itself ensnared in red tape; as of today, a mere 175 licenses have been approved and 141 denied; 515 are still pending, drawing the ire of homeowners who say they are losing money every day they are forced to wait.

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

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

www.shelterrealty.com

LAS VEGAS, NV – Las Vegas’ infamous “Underground House” has been listed on the market this week, with the seller asking a cool $8.5 million for the extraordinarily unique and eccentric subterranean residence.

Essentially a “doomsday bunker” located 26 feet underground – with a 2,300 square-foot, two-bedroom house located above-ground that serves as a gateway to entering the underground house – the property was originally built in 1978 by Avon cosmetics executive and subterranean living enthusiast Jerry Henderson and architect Jay Swayze. The one-of-a-kind dwelling originally cost $10 million to build, and is situated within a 15,000 square-foot steel-reinforced concrete bunker.

Despite its intended purpose being to survive a potential nuclear holocaust, the underground house – which boasts 5,000 square-feet of living space and retains its authentic 1970’s design aesthetic to this day – features numerous amenities, including a pool, terraces, a waterfall, a generator, and a 1,000-gallon water tank.

“One of America’s most extraordinary residences: The Underground House,” reads the Redfin listing, which refers to the property as the world’s largest “Atomitat,” a Cold War-era luxury bunker designed for self-sufficient living.

3970 SPENCER STREET, LAS VEGAS – $8,500,000.00

Featuring a total 5 bedrooms, 6 baths over 2 homes (one above ground and one below ground), an indoor pool, putting green, theater, dance floor, bar, saunas, and a programmable faux sky, it recreates the feeling of being above ground while offering total privacy and security,” the listing continues. “Hand-painted landscape murals, sculpted trees, and retro 1970s design details create an immersive, time-capsule setting unlike any other. This is a rare investment opportunity – ideal as a private residence, event venue, museum, luxury rental, or cultural landmark. A true piece of Las Vegas history and a chance to own a property that is equal parts residence, attraction, and legend.”

Previously, the property sold in 1990 for $1.3 million after Henderson passed away, and again in 2005 for $2 million. The Stasis Foundation – which reportedly advocates for cryogenics, or the practice of freezing humans for scientific purposes – purchased it in 2014 for $1,150,000. However, the property’s current owner is not publicly known.

Click here to view full listing details for 3970 Spencer Street, Las Vegas

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

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

www.shelterrealty.com

LAS VEGAS, NV – Las Vegas currently has a record-breaking number of luxury homes listed on the market – defined as properties priced at $1 million or higher – while sellers are scrambling to cut deals by lowering prices amid the competition.

Luxury listings in Vegas have increased a whopping 42 percent year-over-year, which is over 50 percent higher than the national average increase of 20.3 percent, as per July 2025 housing data recently released by Realtor.com.

While the total number of new properties on the market in Vegas increased 5 percent in July over the same period of time one year prior, builders and sellers alike are slowing down their momentum as the overall national real estate market experiences a slowdown due to high prices and expensive borrowing costs.

However, while $1 million might get you a small two-bedroom condominium in major metros such as New York City of Los Angeles, that amount gets you a great deal more bang for your buck in Las Vegas; we’re talking large homes coming in at 5,000 square-feet of living space, packed with numerous perks and amenities.

As a result, Las Vegas luxury real estate has been a proven draw for the affluent in society, especially considering the fact that Nevada has no state income tax. But as the luxury market continues to slow down amid national economic uncertainty, there is more and more competition amongst sellers, and that is translating into price cuts.

Prices for luxury homes in the $1.2 million-plus range in Southern Nevada have decreased 12.17 percent year-over-year, contrasted by the 1.14 percent national average; homes costing $2 million-plus – the range experiencing the steepest cuts – are down 18.3 percent, compared to 6.15 nationally. And as for the homes in the $6-million-plus range, those cuts are coming in at 15.21 percent versus 6.78 percent nationally.

But lowering prices is only part of the equation – now sellers are also waiting longer to make a deal. Luxury listings in Vegas are languishing on the market for a median rate of 64 days, a 5-day year-over-year increase.

Clearly, in today’s tough economic and socio-political climate, buyers – even affluent ones – are waiting longer, shopping longer, and negotiating with more gusto, and sellers are being forced, for the time being, at least, to adjust to make a deal.

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

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

www.shelterrealty.com

LAS VEGAS, NV – According to a new report released by real estate brokerage services company Redfin, the Las Vegas Valley is currently the fastest-cooling housing market in the United States.

In June 2025, the amount of home sales in the valley decreased 10.2 percent when compared to the same month one year prior; in contrast, the amount of housing inventory on the market in Southern Nevada has increased 44.8 percent year-over-year, the largest jump out of any of the country’s largest major metropolitan areas.

The Redfin report said that the prices of homes in the region have remained approximatively the same compared to one year ago, but when homes do sell, they do so at an average price drop of four percent. In addition, the average amount of time that a house is currently sitting on the Las Vegas market before selling is 51 days, an increase of 15 days year-over-year and well above the national average of 40 days.

In a separate report, Redfin also noted that the valley has experienced a 12.2 percent decrease in its number of pending home sales, which places the region third in the country in terms of that metric.

Las Vegas Redfin Realtor Cherra Bergman said that there are several economic factors at play that are contributing to the current real estate situation in the Las Vegas Valley.

Buyers have more inventory to choose from than they’ve had in years, so they feel like they can take their time. Even when they find a home they really like, they often wait to find something better,” she said. “House hunters are cost-conscious because mortgage rates are high, so many are opting for new-construction homes since builders here are offering great incentives like mortgage-rate buydowns and money toward closing costs in order to offload inventory.”

After Las Vegas, the fastest-cooling residential real estate markets in the country are currently Sacramento, Denver, Fort Lauderdale, Orlando, San Diego and Miami.

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

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

www.shelterrealty.com

LAS VEGAS, NV – As per a newly-released report, the rent in the Las Vegas Valley is actually lower than other major metropolitan areas throughout the country with similar population sizes.

According to Zumper, as of the beginning of June 2025, the median price for a one-bedroom rental unit in Clark County was $1,250 per month, making it the most affordable area out of the five U.S. metros that are comparable in size and number of residents.

Meanwhile, the most expensive metro of that group is Denver County, Colorado, where the median rent is $1,512 per month, followed by Sacramento County, California with $1,500 per month, Travis County in Austin, Texas at $1,476, and Multnomah County in Portland, Oregon at $1,425.

In contrast, the next cheapest major metro after Las Vegas in terms of one-bedroom rent is Salt Lake County, Utah, at $1,230 per month.

When it comes to two-bedroom rentals, the current going rate in Vegas as of the start of June was $1,500, which is the same amount it was during the same period of time one year prior but a 3.2 percent decrease when compared to May 2025.

Zumper’s report shows a serious shift in overall patterns when it comes to rental prices nationwide, where numbers are either dropping or at the very least remaining flat in the majority of the major metro areas that they examined. One of the main reasons for this is likely due to the large number of apartment units coming into the market over the course of 2025, leading to a surge in inventory, according to Zumper CEO Anthemos Georgiades.

Even with ongoing economic uncertainty, the U.S. rental market continues to demonstrate striking resilience,” he said in a statement. “While the national rent rates are slightly down from last year, that softness is misleading. In the context of a historic wave of new supply, the limited decline in rents is a strong indicator of how powerful renter demand remains.”

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

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

www.shelterrealty.com

LAS VEGAS, NV – According to a newly-released report, a growing percentage of homeowners in Las Vegas are falling behind on their mortgage payments when compared to just one year prior.

As per the University of Nevada, Las Vegas’ (UNLV) Lied Center for Real Estate, in Clark County in the first six months of 2025, approximately 1,290 notices of default on home mortgages were filed, which represents a 28 percent increase year-over-year.

Of those notices of default filed in the first half of this year, the vast majority of them – 1,035, to be exact – were on single-family homes, whereas there were 133 filed for townhomes and 83 for condominiums.

In June, the most recent month covered by the report, almost 200 notices of default were filed, a jump of 32 percent from the same period of time in 2024, the Lied Center for Real Estate said.

Typically, property owners who fall behind on their mortgage payments will file a notice of default, which is normally the beginning of the process of foreclosure; however, this doesn’t always represent the filing party losing their home, as it is still possible for them to come to an arrangement with their lender, or find alternate means of getting up to date with their outstanding debt.

However, despite the large increases in the number of defaults in Southern Nevada over the course of the last year, the Lied Center’s research director, Nicholas Irwin, said that number is still low when compared to much of the rest of the nation.

Nonetheless, he noted that the upward trend of defaults is nonetheless a cause for concern, given that the unemployment rate in Las Vegas is currently higher than the national average; this could translate to the local economy facing “turbulent times ahead,” Irwin said.

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

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

www.shelterrealty.com