What Buyers Say They Need Most (And How the Las Vegas Market Is Responding)

A recent Bank of America survey asked would-be homebuyers what would make them feel more confident about moving forward, and the answers were clear: affordability. Buyers want relief on home prices and interest rates.

Here in Southern Nevada, we’re starting to see shifts on both fronts.

Prices Are Moderating

Across the Las Vegas Valley, home prices took a step back in September. The median single-family home price dipped to $470,000, down from $480,000 in August.

Sales activity held steady: 1,875 homes closed in September, up slightly from 1,837 in August. That tells us buyers are still out there, but they’re more price-sensitive and selective than in years past.

In Henderson, the story is similar. 377 homes sold in September (up from 364 in August), with the median price rising slightly to $530,000 from $525,000 the month before. 

Inventory and Buyer Power

One way pros measure whether it’s a buyer’s or seller’s market is months of supply (how long it would take to sell all active listings at the current pace of sales):

• Las Vegas Valley overall: ≈7.7 months of supply → leaning toward a buyer’s market (more homes than buyers).

• Henderson: 1,576 active listings ÷ 377 monthly sales ≈ 4 months of supply → a more balanced market. 

That explains why Henderson hasn’t seen the same price dip as the Valley overall.

Mortgage Rates Are Easing

On top of moderating prices, mortgage rates have pulled back from their recent highs. Even a small dip in rates can mean hundreds of dollars in monthly savings for local buyers.

Experts project rates will hover in the mid-6% range over the coming months, with the possibility of moving lower depending on the broader economy. For Henderson and Las Vegas buyers, that could create a window of opportunity before demand picks up again.

Why This Matters Locally

For buyers in the Valley:

• Prices are stabilizing after years of rapid growth.

• Sales activity remains steady, showing there’s still healthy demand.

• Rates are easing, helping with affordability.

It’s not a “buyer’s market” just yet, but the landscape is shifting to give buyers more breathing room and more negotiating power than they’ve had in the past few years.

Bottom Line

Both of the top buyer concerns — prices and rates — are trending in a better direction across Southern Nevada. In Henderson, inventory is tighter and prices are holding; across the Valley, more supply is giving buyers leverage.

If you’ve been waiting for the right time, the fall market may offer opportunities you haven’t seen in years. Let’s connect to review what’s happening in your neighborhood so you can make the most of today’s shifting conditions.