Are Home Prices Falling in Las Vegas? (2025 Update)

by Ryan Rose

If you’re keeping an eye on the Las Vegas housing market, you’re probably wondering: Are home prices in Las Vegas starting to fall? With economic uncertainty, rising mortgage rates, and fluctuating buyer demand, it's a fair question—and the answer might surprise you.

The Reality of Las Vegas Home Prices in 2025

While some headlines have suggested that prices are cooling off, the reality is a bit more nuanced. Las Vegas home prices aren’t crashing—but they are adjusting. After a massive run-up in values between 2020 and mid-2022, the market has been recalibrating.

In early 2025, prices in some neighborhoods have plateaued or dipped slightly. This is especially true for homes that were overpriced or sat on the market too long. But overall, the Las Vegas market remains strong, especially in high-demand areas like Summerlin, Mountain’s Edge, and Southwest Las Vegas.

A Market Shift—Not a Collapse

What we’re seeing isn’t a crash—it’s a shift. Inventory has ticked up slightly, giving buyers more breathing room. Sellers are no longer getting 20 offers in one weekend, and buyers are negotiating again. This is a much healthier and more sustainable market than what we saw during the buying frenzy of 2021.

What’s Causing the Price Adjustments?

Several factors are contributing to the slight softening of prices in certain segments:

Higher interest rates have made monthly payments more expensive.
Buyer fatigue has set in after years of competition and rising prices.
More homes are hitting the market, especially from homeowners cashing in on their equity.

Still, Las Vegas remains more affordable than coastal cities, and strong job growth continues to attract new residents.

Bottom Line

So, are home prices falling in Las Vegas? Not in a dramatic way. Think of it as a market correction, not a crash. For buyers, that means more opportunity. For sellers, pricing correctly from day one is now more important than ever.

📲 Have questions about the value of your home or the current market? Call or text Ryan Rose at 702.747.5921 for honest insights—no pressure, no BS.