{"id":82018,"date":"2025-08-29T05:00:21","date_gmt":"2025-08-29T12:00:21","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=82018"},"modified":"2025-08-28T12:05:16","modified_gmt":"2025-08-28T19:05:16","slug":"las-vegas-housing-supply-rises","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/las-vegas-housing-supply-rises\/","title":{"rendered":"Las Vegas Housing Supply Rises 31% As Demand Stumbles, Pushing Sale Prices Down Slightly"},"content":{"rendered":"

Inventory is growing more in Las Vegas than anywhere else in the nation while home sales fall, with many local residents backing off amid economic uncertainty and a faltering tourism industry.\u00a0<\/span><\/i><\/p>\n

The total number of homes for sale in Las Vegas rose 31% year over year in July, the biggest increase of any major U.S. metro area and roughly triple the national increase.\u00a0<\/span><\/p>\n

That marks a year straight of 20%-plus inventory increases for Las Vegas.<\/span><\/p>\n

\"\"<\/p>\n

Supply is piling up in Las Vegas because would-be homebuyers are sitting on the sidelines. Pending home sales fell 8.6% year over year in July, and <\/span>closed <\/span><\/i>sales fell 8.5%. Home sales in Las Vegas have been falling on a year-over-year basis since spring.<\/span><\/p>\n

\"\"<\/p>\n

The homes that <\/span>are <\/span><\/i>selling in Las Vegas are taking longer to do so than they have in the past. The typical home that sold in July took 55 days to go under contract, 16 days longer than a year earlier.<\/span><\/p>\n

The overall U.S. housing market has been <\/span>slow<\/span><\/a> for many months due to high homebuying costs and widespread economic uncertainty. But a <\/span>recent Redfin analysis<\/span><\/a> found that Las Vegas is cooling faster than any other metro area in the country.\u00a0<\/span><\/p>\n

There are several reasons the Las Vegas housing market is stumbling:<\/b><\/p>\n