We’re seeing some notable shifts in the national real estate market: existing-home sales dipped below 4 million in Mid-Q3, now pacing at 3.98 million annually—a 14-month low. Buyer activity has softened a bit, with a 2% month-over-month decline, but there’s an upside for those looking to purchase. Inventory has grown to a 4.9-month supply, meaning buyers now have more choices and negotiating power as more listings come to market across the country. The average 30-year fixed mortgage rate held near 7% in Mid-Q3, which has certainly influenced the pace, but it hasn’t stopped homes from moving—properties spent an average of 31 days on market, and 30% of sales went to first-time buyers, while cash deals accounted for 27%. Notably, the median price reached a record $429,100, with higher-priced homes leading the activity. Strong wage growth and steady job gains are helping to support demand, and in my experience, this expanding pool of options is making it a more dynamic environment for both buyers and sellers. My background in both real estate and mortgage lending gives me a unique perspective on how these trends impact your next move in Las Vegas and beyond.
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