Why It Sucks to Be in Nevada’s Housing Market Today

Nevada homeowners are facing one of the most brutal housing markets in America — and the latest data shows the situation is unraveling even faster than anyone expected. Prices are dropping, buyers are backing out, listings are sitting for months, and entire neighborhoods across Las Vegas, North Las Vegas, Henderson, and Reno are entering full-blown decline.

According to new reports from the UNLV Lied Center for Real Estate, 74% of all ZIP codes in Southern Nevada are now experiencing year-over-year price drops. Homes that sold in days during the pandemic are now sitting 100, 200, even 400 days with zero offers. Deal cancellations are exploding, seller panic is rising, and the housing slowdown is turning into something much more dangerous: a market crash concentrated in Nevada.

In this video, we break down the real data behind the downturn:
• Why buyers are canceling deals at record levels
• Why Nevada homes are sitting longer than almost anywhere in the country
• How rising mortgage rates and inflation are crushing affordability
• Why price reductions have surged nearly 95% year-over-year
• Why investors and cash buyers have vanished
• Why sellers are delisting homes to avoid chasing prices down
• And why experts are calling Las Vegas the epicenter of the nationwide housing decline

If you’re a homeowner in Nevada — or planning to buy or sell — this is the information nobody else is telling you. The market isn’t “cooling.” It’s resetting in real time, and the next 12 months could determine whether the downturn stabilizes… or becomes a far deeper crash.

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