Homeowners gained an average of $44,000 in equity, a 24% return on purchase price, the highest since 2007. Sellers held homes for an average of 7.97 years, longer than pre-recession averages. Low inventory of move-up and starter homes limits sales, but some markets show signs of increased turnover. Home prices reached new highs, fueling a strong spring home-buying season.
August brought a 6.4% increase in new single-family home sales, reaching an annual rate of 684,000. While that's a positive movement, sales are still 2% behind where we were last year—an important detail to keep in mind as buyers navigate ongoing affordability challenges. Inventory remains steady at 483,000 units, translating to an 8.5-month supply. The median price inched up to $393,700 for the month, though that's actually 5.8% lower than last year. In my experience working with buyers and sellers throughout Las Vegas, those shifts reflect what I’m seeing on the ground: some positive momentum, but plenty of complexity as people weigh options. My background in both real estate and mortgage lending gives me a unique perspective on how these numbers play out for local families searching for the right fit in a shifting market.
Pending home sales in the U.S. edged up a modest 0.3% in mid-Q3, reflecting a bit of renewed contract activity—though it’s still about 5% lower than last year, as many buyers continue to navigate higher mortgage rates. Despite the increased borrowing costs, job gains and stronger incomes are helping some buyers keep pace with rising home prices. Nationally, contract signings remain about 30% below pre-pandemic levels—a reminder of how much the rhythm of our market has changed since the 2021 surge, when mortgage rates dipped near 3%. As someone who’s helped clients through both those boom times and today’s more measured pace, I always keep a close eye on pending sales as an early indicator of what’s next. These contracts, which usually close within a month or two, offer valuable insights on upcoming sales activity—even if financing or inspections sometimes stretch out the timeline.
Tracking national inventory trends is always essential for understanding the current real estate landscape. By mid-Q3 2026, active listings across the US reached 1.14 million—about a 4% increase from last year’s 1.1 million. That’s progress, but growth is clearly cooling compared to the roughly 21% jump we saw just a year before. Even with a slight rebound from a low point of 2% growth in late Q2, we’re still not back to pre-pandemic levels: national supply remains about 8% lower than mid-Q3 2019, with 1.14 million active listings versus 1.24 million at that time. Interestingly, 18 states and DC have now surpassed their 2019 inventory levels, even as the country as a whole lags behind. The intense post-boom softening has eased, leaving us in a softer market with flat prices year-over-year—something that both buyers and sellers should be mindful of, especially with higher yields and mortgage rates in play. My experience navigating dynamic markets in Las Vegas has taught me that understanding these shifts is key to making informed decisions, whether you’re looking to buy, sell, or simply track the pulse of the industry.
With U.S. housing inventory now at 1.62 million homes—representing a 4.9 months’ supply—we’re seeing the highest level of available homes in over a decade. This shift, driven by higher mortgage rates and a slower sales pace, is changing the landscape for both buyers and sellers. For buyers, more choices mean the opportunity to be selective and negotiate. For sellers, it’s essential to price homes competitively from the outset. Drawing on my background in both real estate and mortgage lending here in Las Vegas, I’ve seen firsthand how a market with more inventory can open doors for well-prepared buyers while challenging sellers to adapt their strategies.
Indigenous Peoples’ Day celebrates, recognizes, and honors the beautiful traditions and cultures of the Indigenous People
We take a stand for and support the indigenous people on this day.
We should also offer our support to those who invest and uplift the indigenous communities.
With the 30-year mortgage rate now at 7.12%, we’re seeing a real impact on the housing landscape here in northern Nevada. Reno’s median home price is holding strong at $659,777—hovering close to all-time highs—thanks to persistent inflation pressures and a tight land supply. For buyers navigating these challenging conditions, strategic negotiation is more important than ever. Drawing from my background both as a real estate agent and former mortgage loan officer, I always recommend considering seller credits or rate buy-downs to help offset today’s higher borrowing costs. A well-planned approach can make all the difference in securing the right home, even in a competitive market.
August 2026 saw the national median home price climb 2.1% to $395,000—even as home sales dipped by 4.3% and inventory grew by 5.4%. Single-family homes, a segment I specialize in here in Las Vegas, led the way in price gains. Interestingly, while some cities experienced price drops due to increased supply, the overall trend points to continued demand for quality properties. My years in both sales and mortgage lending have shown me that shifts in inventory and pricing always create unique opportunities for buyers and sellers alike. Navigating these changes is part of what I enjoy most about helping clients find the right fit in a dynamic market.
We're seeing a significant shift in the way homes are being sold across the US, with seller concessions reaching a new high in the rolling 3-month period ending mid-Q3—about 45% of home sales included some form of concession, the highest share for this time frame since at least 2020. Compared to roughly 43% a year ago, this uptick signals more negotiating power for buyers, as increased inventory and less intense competition reshape the landscape. These concessions have ranged from assistance with repairs to help with closing costs or even mortgage-rate buydowns, providing buyers with more choices to manage their total purchase costs beyond just price reductions. Sellers are now more frequently offering closing-cost credits and rate buydowns, changing how negotiations proceed and giving buyers added flexibility. Nationally, about 16% of homes sold mid-Q3 included both a price reduction and a concession, which can further lower the cost to enter the market. Having worked both as a real estate agent and a mortgage loan officer here in Las Vegas, I see how these trends are playing out locally, offering buyers and sellers new strategies to achieve their goals in an evolving market.
