Las Vegas new home sales just hit their lowest June total since 2015.
Here’s what that really means:
We’re not crashing. We’re correcting — and the ones who know how to play it smart? They’re still winning.
So what’s going on?
According to Home Builders Research, Las Vegas builders posted just 640 net sales in June — a 28% drop from last year. Pull permits? Also down 21%. And nationally? Builders everywhere are pumping the brakes.
Rates are high. Buyers are hesitant.
And in a lot of cases, sellers are still pretending it’s 2021.
But here’s the twist no one’s talking about
Even with fewer sales, prices are still climbing.
The median new home price in Las Vegas last month? $523,492 — up 5% year-over-year.
Resale homes? $485,000 — also up.
Let that sink in:
Sales are down, but pricing power hasn’t totally cracked.
Which means the market isn’t dead — it’s just a little... moody.
What this means for YOU
If you’re a buyer?
You have more inventory, more breathing room, and more leverage than you’ve had in the last two years.
Translation: it’s officially okay to negotiate again.
If you’re a seller?
Let’s get honest — you can’t just list and hope. You need strategy.
Right pricing. Right visuals. Right story. Because if you’re not leading with value, you’re getting buried in the scroll.
And builders?
They're holding the line. With fewer homes in the pipeline, we’re about to see even more competition for move-in ready new construction — and incentives could shift again.
So if you're waiting for prices to crash?
You might miss the real opportunity right in front of you.
Bottom line
This isn’t the frenzy of 2021. It’s not the free-fall of 2008 either.
It’s a sophisticated market — one where strategy beats speculation.
And if you’re wondering how to make a smart move in a market like this — that’s where I come in.
Reach out. Let’s cut through the chaos and craft a plan that actually works.
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In the meantime, if you're wondering how these changes affect your plans—whether you’re buying, selling, or just trying to time the market—I'm here to talk strategy. Let’s have a conversation that actually makes sense for you.