Las Vegas Home Prices Dip as War-Driven Interest Rates Impact Housing Market

Las Vegas REALTORS® (LVR) reported a 1% decline in median home prices for March, with the average single-family home selling for $480,000. LVR officials pointed to rising mortgage rates, exacerbated by the ongoing Iran conflict, as a central factor cooling the market. While prices have dipped from their late-2025 highs, inventory has surged by nearly 20% year-over-year, providing more leverage for buyers despite the challenging interest rate environment.