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Category Archive : Economy

Mortgage

For the First Time in Five Years, More Homeowners Have a Mortgage Rate Above 6% Than Below 3%

LAS VEGAS, NV – A new study has revealed that, for the first time in five years, there are more homeowners with a mortgage interest rate higher than six percent than there are ones with a rate below three percent.

Data released by Redfin indicates that 21.1 percent of homeowners in the United States – equating to over one in five – had a mortgage rate of six percent or higher during the third quarter of 2025, the most recent time period for which data is available; this represents a year-over-year increase of 17.1 percent, as well as the highest share since 2015.

In contrast, a lower amount of homeowners – 20 percent – had a mortgage rate of three percent or lower in the third quarter of 2025, which is the smallest share since the fourth quarter of 2021.

The remaining 78.8 percent of homeowners in the country had a rate under six percent, the lowest share since 2015.

This news shows that the home mortgage industry has undergone a diametric shift from what it once was during the COVID-19 pandemic and the months that followed in its wake, when more homeowners had lower rates than higher ones.

The last time the majority of homeowners had higher mortgage rates as opposed to lower ones was the third quarter of 2020, right in the midst of the pandemic when rates were bottoming out, causing a homebuying frenzy across the country.

According to Redfin’s head of economics research, Chen Zhao, with mortgage rates finally dipping slightly below six percent recently, now might be a good time for homeowners with six-plus percent mortgage rates to think about refinancing.

For homeowners with a rate north of 6 percent, this is a moment to run the numbers,” he said. “With average rates hovering at or just below 6 percent, some borrowers may be able to lower their monthly payment or their long-term interest costs by refinancing. It’s not the once-in-a-generation opportunity we saw in 2020, but it could provide meaningful savings.”

Shelter Realty Property Management specializes in the areas of  HendersonLas 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.

Las Vegas housing project near rural

Average Time of Las Vegas Valley Homes Sitting on the Market Increasing

LAS VEGAS, NV – The average amount of time homes for sale in the Las Vegas Valley are sitting on the market is gradually increasing, according to a new report by Redfin.

Homes in the valley – as of data taken from sales in January – are sitting on the market for an average of 78 days, which represents an increase of 18 days year-over-year, Redfin notes.

Meanwhile, the median sales price of a Vegas home has decreased 1.1 percent in January when compared to the same period of time one year prior, but pending sales are down 6.7 percent; meanwhile, the number of homes that are being sold is down 8.4 percent, and new homes that are being listed on the market have decreased 10.1 percent.

The data was compiled from listings in the valley that had been up for 18 days or longer when compared to the previous period of time one year prior. Active listings were up 8.6 percent year-over-year, according to Redfin.

This data ranks Las Vegas at the third highest major metropolitan area in the United States, only behind San Antonio, Texas at 21 days and Houston, Texas at 19 days.

Redfin Senior Economist Asad Khan noted that the market has been favoring buyers to a higher degree than the organization has seen in many years.

Home prices grew so fast for so long that a lot of buyers got shut out of the market, which is now causing price growth to cool,” he said. “With far more homes for sale than people who want to buy them, the buyers who are in the market have the power to negotiate on price, which is keeping price growth in check.”

While home-price growth has slowed and mortgage rates have dipped, housing affordability hasn’t improved enough to bring a critical mass of homebuyers off the sidelines,” Khan concluded. “The median home sale price was at the highest January level on record last month, and mortgage rates were still more than double the record low hit during the pandemic. Redfin agents say many house hunters are waiting for rates to fall further before jumping in.”

Shelter Realty Property Management specializes in the areas of  HendersonLas 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.

Happy real estate agent woman showing content on tablet to young couple of tenants, renters, house buyers, standing at apartment entrance outside, talking, laughing, discussing rent or purchase terms

Report: Las Vegas Home Sellers Currently Outnumber Buyers by 92%, 44% Gap Nationwide

LAS VEGAS, NV – According to a new report by Redfin, in January there was an estimated 44 percent more home sellers than buyers – which, in numerical terms, would equate to 600,314 – representiong a 30 percent increase year-over-year and the second-largest gap since the brokerage first began tracking such data in 2013.

However, the gap in Las Vegas, Nevada was far greater than the national average, with Redfin noting that there were 92 percent more sellers than buyers in January.

The largest gap between sellers and buyers in the national real estate marketplace was 45 percent, which Redfin notes took place in December 2025.

Redfin analyzed the 50 most populous U.S. metropolitan areas, and defines a buyer’s market as one where there are more than 10 percent more sellers than buyers. In contrast, a seller’s market is one that has over 10 percent less sellers than buyers, and a market is considered “balanced” if there is a plus or minus gap of no more than 10 percent.

By those definitions, Redfin notes that the country has been an overall buyer’s market since May 2024.

The strongest seller’s market in January was Newark, New Jersey, which had an estimated 31 percent fewer sellers than buyers, followed by Nassau County, New York (-29 percent), Milwaukee, Wisconsin (-26 percent), Montgomery County, Pennsylvania (-26 percent) and New Brunswick, New Jersey (-17 percent).

In a situation where sellers greatly outnumber buyers, the latter have distinct advantages because the large number of options they possess gives them more negotiating power. However, one still needs to have the financial means to afford to purchase a home in a buyer’s market, and record-high home prices, coupled with expensive borrowing costs and the uncertainty currently plaguing the economy are still proving to be formidable barriers for many when it comes to homeownership.

Shelter Realty Property Management specializes in the areas of  HendersonLas 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.

Property Taxes

Report: Nevada Among States With the Lowest Property Taxes in Nation

LAS VEGAS, NV – In today’s tough economic climate, any way to save a buck or two can make a difference for hard-working families. The overall cost of living is a very real concern when it comes to where you live, and because of that there’s yet another reason why Nevada remains appealing to many- according to a new WalletHub report, the state has some of the lowest property taxes in the entire country.

WalletHub Analyst Chip Lupo noted that, according to the U.S. Census Bureau, the average household in the country pays approximately $3,119 per year in property taxes.

Some states charge no property taxes at all, while others charge an arm and a leg,” he said.

WalletHub’s report examined all 50 U.S. states and the District of Columbia to see which of them placed the heaviest and lightest property tax burdens on their residents.

Americans who are considering moving and want to maximize the amount of money they take home should take into account property tax rates, in addition to other financial factors like the overall cost of living, when deciding on a city,” Lupo said.

According to WalletHub’s report, Hawaii, Alabama, Nevada, Arizona, and Colorado are the states with the lowest property taxes. WalletHub based their report on data originally collected in 2024, at which time the median home value in the nation was $332,700.

With that being said, the average property taxes on a home in Nevada that is worth $332,700 is a mere $1,549 annually, as per WalletHub. Currently, the median home value in the state is $435,400.

In contrast, the states with the highest annual property taxes in WalletHub’s report are New Jersey ($7,022), Illinois ($6,694), Connecticut ($6,024), New Hampshire ($5,511), and Vermont ($5,295).

Shelter Realty Property Management specializes in the areas of  HendersonLas 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.

Happy Single pretty young adult woman arriving entering the door of her new moving house with boxes and a plant, real estate, house selling

Nearly Twice as Many Singles Struggle with Housing Costs Compared to Married Couples, Report Says

LAS VEGAS, NV – While the housing market has proven difficult to navigate for much of the nation in recent years due to numerous factors such as high prices and interest rates on home loans, a new Redfin survey indicates that the trials and tribulations of homeownership are proving to be nearly twice as hard on single people as opposed to married ones.

According to the survey, which was conducted in November 2025 amongst 4,000 U.S. residents, approximately two-thirds of single people – 64 percent – found it to be a serious hardship to be able to afford their rent or mortgage payments, as opposed to 39 percent of married people.

Both rents and home sale prices have risen considerably prior to the levels they were at before the pandemic, with rents currently 20 percent higher and home prices up nearly 50 percent; wages have increased as well, but not nearly at the same rate as housing costs and other day-to-day living expenses.

But still, married couples are having an easier go of it when it comes to their ability to afford housing when compared to singles, and Redfin has narrowed down the reasons why to three important factors.

First, household income for single people is generally lower, and when they find themselves paying prices better suited to a double income, financial strain nearly always follows. 48 percent of single survey respondents noted that they make less than $50,000 annually, whereas 62 percent of married people bring in a combined income of $100,000; 21 percent bring in up to $500,000.

Second, single people lack the tax advantages that married people can partake in, who also typically tend to split common household expenses – groceries, utilities, etc. – that single people are solely responsible for.

And finally, single people on average are younger than married couples, and as a result are typically in the earlier stages of their careers and have not reached their maximum earning potential yet, nor do they usually have much money saved up; they are also often in the process of paying off student debt as well.

These three factors contribute greatly to single people having more difficulty when it comes to the costs associated with housing than married people, but with more and more local governments addressing the ongoing national affordable housing crisis, new policies and developments are coming along that may help to address this discrepancy in the future.

Shelter Realty Property Management specializes in the areas of  HendersonLas 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.

Las Vegas Real Estate Sign Depicts Houses And Homes In Nevada. Property Purchases And Development Sales - 3d Illustration

Monthly Las Vegas Rental Report: How Much Can Homeowners Expect for Rent? (February 2026)

LAS VEGAS, NV – The latest rental market figures for February 2026 show relatively steady conditions in the Las Vegas Valley after a modest winter uptick. According to Zillow, the average rent for all bedrooms and all property types now sits at approximately $1,940 per month, roughly $25 higher month-over-month but still about $60 below year-ago levels. Meanwhile, Zumper’s median rent across all bedroom counts remains near $1,795 per month, reflecting a market that is broadly stable with only modest movement in the last 30 days.

What the February numbers show

Taken together, these indicators suggest that Las Vegas rental pricing has largely leveled off as winter turns to spring rather than seeing broad acceleration or sharp declines in asking rents. Zillow’s February average of $1,940 shows how advertised rents have stayed clustered near where they were in January, holding a modest discount compared to early 2025 figures. Similarly, Zumper data indicate minimal month-over-month shifts in median rents, with most of the recent variation occurring within specific bedroom categories rather than across the market overall.

By bedroom and property type

Public data from Zumper and Apartments.com highlight meaningful differences by unit size and type in early February:

  • Apartment averages from Apartments.com show typical rents near $1,269 for one-bedroom units and about $1,531 for two-bedrooms, with studios near $986 and larger three-bedrooms around $1,840.
  • Zumper’s rolling figures indicate that median rents for individual bedroom counts have mostly held steady in the past 30 days, with studios near $997, one-bedrooms roughly $1,108, two-bedrooms near $1,450, and three-bedrooms about $1,975.
    These splits underscore the continued spread between smaller apartment stock and larger homes or multi-bedroom units, where more space and features can command higher monthly premiums.

Month-over-month and year-over-year trends

From a short-term perspective, Zillow’s roughly $25 increase from January to February suggests mild firming in advertised rents as the market has moved out of the holiday season and into early Spring. On a yearly basis, however, the same series remains lower than February 2025 levels, confirming that the Las Vegas rental market has not fully recaptured the peaks seen in recent years. Zumper’s median also continues to sit below the national median, emphasizing Las Vegas’ relative affordability in the current market context.

What this means for Las Vegas homeowners

For local homeowners considering renting out a property in 2026, the February data point to a market that is stable but competitive. Rents aren’t declining sharply anymore, but tenants still have options, which can make aggressive pricing counterproductive. Properties that are well-presented, priced near current market averages, and professionally marketed are more likely to secure qualified renters quickly. Owners who overprice – even by $50–$100 – may find vacancy periods lengthening in a market that is leveling rather than surging.

Homeowners unsure where their specific property fits relative to these broad figures should consider a free custom rent estimate based on neighborhood, square footage, condition, and recent comps, as broad metro averages do not capture the nuanced variations across different pockets of the Las Vegas Valley.

Data sources: Zillow Las Vegas rental market trends (average rent for all bedrooms and property types, as of early February 2026) and Zumper Las Vegas rent research (median rent and bedroom-level data, updated February 5, 2026), along with supplemental apartment trend data from Apartments.com (as of February 2026).

Shelter Realty Property Management specializes in the areas of  HendersonLas 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.

Las Vegas

Las Vegas Among Hardest-Hit Cities When It Comes to Home Sale Cancellations

LAS VEGAS, NV – A new report from Redfin indicates that Las Vegas is one of the hardest-hit cities in the nation when it comes to sale cancellations in December 2025, the latest month sales data is currently on record.

In December, buyers across the country put the kibosh on a total of over 40,000 sales agreements, making up 16.3 percent of all deals; this represents a 14.9 percent increase year-over-year, and the highest number of cancelled sales since 2017.

Las Vegas, Nevada has been swept up in this trend, ranking in the top five major metropolitan areas analyzed by Redfin in this respect, with almost 20 percent of homes coming out of escrow in December.

Currently, the average sales price of a single-family home in Las Vegas stands at $439,000.

When broken down to cancellations in major metros, San Jose, California saw the largest annual increase in home purchase cancellations at 6.8 percentage points (ppts) to 8.9 percent in December. It was followed by Oakland, California with 6.3 ppts to 11.3 percent; Sacramento, California with 4.7 ppts to 17.9 percent; Atlanta, Georgia with 4.4 ppts to 22.5 percent; and Las Vegas with 3.5 ppts to 19 percent.

Chen Zhao, head of economics research at Redfin, said that there are a number of factors that are contributing to the jump in sale cancellations, leading to buyers being more willing to pump the brakes and adopting a “wait and see” approach to the market.

High housing costs and rising inventory have made homebuyers more selective,” he said. “Home sellers outnumber buyers by a record margin, meaning the buyers who are in the market have options and may walk away if they believe they can find a better or more affordable home.”

The good news for buyers, according to Redfin, is that “mortgage payments have declined recently thanks to a drop in mortgage rates, and price growth is also easing,” with Redfin economists expecting “affordability to gently improve in 2026 as wages rise faster than housing costs.”

Shelter Realty Property Management specializes in the areas of HendersonLas 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.

North Las Vegas

While Las Vegas December Home Prices Drop, Signs Pointing To Southern Nevada Making “Big Comeback”

LAS VEGAS, NV – Following a period of time that saw record-breaking, breakneck sales become the norm for the region, things cooled considerably for Las Vegas’ residential real estate market in 2025, with a significant drop in properties changing hands when compared to 2024.

According to trade association Las Vegas Realtors (LVR) – as per data pulled from the Multiple Listing Service – in 2025, about 28,498 existing single-family homes changed hands in Las Vegas, which represents an approximate 9 percent decrease year-over-year; in contrast, in 2024 the number of homes that were sold came in at 31,305.

2025’s home sales number was the lowest since 2007, which was right before the Great Recession hit the United States.

Meanwhile, LVR reports that home prices in Vegas for the final month of 2025 decreased as well, with December seeing a 3.9 percent drop to $470,000 from November’s all-time record high of $488,995. There were 6,396 single-family homes listed for sale without any sort of offer at the end of December, as per LVR, which represents a 28.8 percent increase year-over-year.

However, despite the dip in sales volume overall, LVR President George Kypreos said that all the signs are pointing to the housing market in Southern Nevada making a big comeback as the days and months go by, with the region often experiencing a declining series of “peaks and valleys” in terms of sales since 2021, indicating that stability is returning.

Although it was a relatively slow year for home sales, we’re seeing some encouraging signs heading into the new year,” Kypreos said. “Buyer activity locally and nationally is starting to improve. Home prices have been fairly stable, and mortgage interest rates ended the year lower than they were the previous year. Most trends are pointing to a more balanced housing market in 2026.”

Shelter Realty Property Management specializes in the areas of  HendersonLas 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.

Majority of Homes on Las Vegas Market Financially Out-of-Reach to Average Buyer, Report Says

LAS VEGAS, NV – As per a new report from personal finance website Bankrate, the majority of homes available on the market in Las Vegas are currently out-of-reach financially to the average buyer amid both soaring prices and high interest rates on mortgages.

Bankrate’s report notes that out of all the homes that are presently available on the real estate market in Southern Nevada, only 14 percent of them fall into the “affordable” category for the typical family. In contrast, the average number of homes that are considered affordable nationally is approximately 25 percent.

Low housing costs over the years have led to a population explosion in the Las Vegas Valley, but recently those costs have increased amid ever-rising asking prices and pricey borrowing rates. Due to this, many families looking to buy homes in Southern Nevada are finding it harder and harder to do so, and as a result, overall sales in the region are dropping significantly.

As per Bankrate, the average household in the Valley needs to be making $33,600 over and above their current annual income to be able to afford the price of a median-priced home. The median sale price of a single-family home in Las Vegas in November reached an all-time record high of $488,995, which represents a two percent increase year-over-year.

With wages struggling to keep up, housing affordability has reached historically low levels in recent years,” Bankrate’s report said, noting that Southern Nevada is in worse shape in that regard than many other metros, with the ability to buy a home there “significantly harder today” than it was prior to the COVID-19 pandemic.

But with that being said, buying a home nearly anywhere in the country, at present, “is no longer as realistic as it used to be,” the Bankrate said, although buyers moving to Vegas from more costly cities – such as Los Angeles, California – would find the real estate market far more affordable in comparison, according to the report.

Shelter Realty Property Management specializes in the areas of HendersonLas 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.

Home Prices in Las Vegas Set Yet Another Record

Home Prices in Las Vegas Reach Yet Another All-Time Record High in November

LAS VEGAS, NV – Home prices in Las Vegas this year continue to set records, with November seeing them hit yet another all-time record high yet again. In Southern Nevada, the median sale price for an existing single-family home reached $488,995 last month, besting the previous record of $485,000 that was reached several times earlier in 2025, according to data pulled from the Multiple Listing Service by industry group Las Vegas Realtors.

However, despite – or perhaps because of – rising sale prices, the number of homes on the market without any offers in the Las Vegas Valley also jumped in November to 7,033, which represents a 26.3 percent increase year-over-year. Meanwhile, the number of condominiums and townhomes for sale without offers last month jumped a whopping 40.8 percent from the same period of time last year.

Las Vegas Realtors notes that the combined total of single-family homes, condos and townhomes that sold last month numbered at 1,918, which is a drop of 6.6 percent year-over-year for homes and 20.2 percent for condos and townhomes.

Las Vegas Realtors President George Kypreos said that while the prices of homes have remained at consistently high levels in the region due to a lack of developable land – and sales remain low due to high prices and borrowing costs – he nonetheless sees signs that the market in Southern Nevada is in a gradual state of change that is starting to favor buyers over sellers.

Even with this new record for our median home price, overall trends have been shifting more in favor of homebuyers,” he said. “We’re selling fewer homes. We have more homes available for sale. And we saw a nice dip in mortgage interest rates last week. All of this benefits people who are prepared and can afford to buy.”

Shelter Realty Property Management specializes in the areas of HendersonLas 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.

las Vegas desert

Home Prices in Las Vegas Drop Year-Over-Year as Prices Nationally Inch Higher

LAS VEGAS, NV – According to the S&P Cotality Case-Shiller index released earlier this week, home prices in Las Vegas dropped year-over-year in September, despite a national trend where prices have been continuing to creep upwards amid an overall sluggish real estate market.

Home prices in Southern Nevada decreased by 0.69 percent in September when compared to the same period of time one year prior, in contrast to the 1.29 percent increase much of the rest of the country reported during that same span of time, as per the S&P report.

National real estate dealings overall experienced their weakest performance since mid-2023, with markets that were previously considered “pandemic darlings” due to their high prices and demand during COVID-19 – such as Las Vegas, among others – now seeing their asking prices decreasing, in contrast to major metropolitan areas in the Northeast and Midwest, which have traditionally remained stable over the years.

Ultimately, the S&P report speculates that these developments represent a “reversion to pre-pandemic patterns where job markets and urban fundamentals drive appreciation rather than migration trends and remote-work dynamics.

Las Vegas was one of many areas in the country that saw an explosion of home-buying activity during the pandemic, driven in large part by cheap borrowing costs; at its peak, buyers were snapping up homes left and right, regularly bidding far over asking prices and at times even doing so without ever having actually set eyes on the property itself. As a result of the intense demand, home prices in March 2022 jumped an astonishing 28 percent year-over-year.

However, as mortgage rates began to rise, the market began to cool, and by March 2023 Vegas home prices were down five percent from the year before.

Prices have still remained relatively high overall in Las Vegas, but are they expected to continue to decrease as buyers and sellers “are paralyzed by high prices and economic uncertainty,” according to the S&P report; as a result, buyers are no longer willing to pay top-dollar for homes in the region – the median price in Vegas last month was $474,370 – “because they simply can’t afford it.”

Shelter Realty Property Management specializes in the areas of  HendersonLas 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.

Las Vegas High-Rise

Las Vegas October Home Prices Remain Just Below All-Time Record High Despite Large Surplus of Inventory

LAS VEGAS, NV – According to a new report by Las Vegas Realtors (LVR), in October home prices in Southern Nevada remained just below their all-time record high, despite the fact that housing inventory is currently high and sales are down 10.1 percent year-over-year.

In October, the median price of a single-family home in the Las Vegas Valley was $474,370, which represents an approximate 1.0 percent increase from September’s price of $470,000 and a mere 0.2 percent drop year-over-year. The region’s all-time record high of $485,000 was achieved several times in 2025, most recently in July.

Home prices are remaining high in the valley despite a large surplus of listings and seriously lowered buying activity; sales in October were down 8.5 percent from September, as per data from the Multiple Listing Service, with LVR noting that 7,538 single-family homes were listed for sale at the end of October without any offers, representing a 30.3 percent jump year-over-year.

LVR President George Kypreos explained that the October report represents the continuing transition of Southern Nevada from a market where sellers were calling the shots to one where buyers now hold a distinct advantage. If there was ever a time for prospective homeowners to take advantage of the situation, he said, the time is now

Local home prices are moderating, with more homes on the market and properties taking a little longer to sell,” Kypreos said. “This shows that the housing market is shifting more in favor of buyers. For people who are prepared and can afford it, it’s a good time to buy.”

Meanwhile, the median price of a condominium or townhome sold last month in Las Vegas was $285,000, an approximate 3 percent drop from September’s price of $294,000 and a 9.5 percent decrease from October 2024.

Shelter Realty Property Management specializes in the areas of  HendersonLas 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.