GOOD ENERGY CLARK COUNTY MARKET UPDATE

November 2, 2026

Okay, something interesting is happening in the Las Vegas housing market!

Two weeks ago, we had 6 months of available inventory.

And according to this week’s report?

We’re down to just 3.7 months!

That’s a pretty big change in a short amount of time!

So what’s going on?

Are buyers suddenly rushing back into the market?

Well, let’s look at the numbers, because there’s actually an interesting explanation.

And stick around, because today’s Good Energy Real Estate Vocabulary is Seller Concessions.

I’ll explain how they could potentially save you thousands of dollars when buying a home!

Alright, let’s get into it!

HOUSING INVENTORY

Right now, Clark County has approximately 11,159 homes available for sale.

That’s slightly down from the 11,273 we had two weeks ago.

But compared to the end of August, we’re still looking at about 450 additional homes on the market.

So buyers definitely have options!

Now here’s where things get interesting.

Our report shows that months of inventory dropped from 6 months to 3.7 months.

And you might be wondering…

How did that happen when we still have over 11,000 homes available?

Well, here’s the explanation.

Months of inventory measures approximately how long it would take to sell the available homes at the recent pace of sales.

And this week’s report shows a significant increase in the number of homes sold over the last 30 days.

From 1,865 in our October 19 report…

to a reported 2,952 in November.

That’s a pretty substantial jump!

And that’s the main reason the calculated months of inventory dropped so dramatically.

Now, I do want to point out that this is a particularly large change, so it’s something I’m watching closely and verifying against the MLS.

Because one report doesn’t necessarily mean the entire market has suddenly changed.

And here’s something else to remember.

Real estate is LOCAL!

A home in Summerlin could experience completely different market conditions than a home in Henderson or North Las Vegas.

BUYER ACTIVITY

Now, let’s talk about something I found encouraging.

Two weeks ago, 479 homes went under contract during a seven-day period.

This week?

514 homes!

That’s about a 7% increase.

So we’re seeing some improvement in new contract activity.

Now, we currently have 2,104 properties under contract, which is slightly lower than the 2,232 we had two weeks ago.

But here’s my takeaway.

Buyers are still out there!

They’re looking at homes, making offers, and negotiating deals.

And with more inventory available than we had at the end of summer, buyers have opportunities to compare properties and make more informed decisions.

HOW DOES THIS COMPARE TO LAST YEAR?

So far in 2026, approximately 23,897 homes have sold throughout Clark County.

Compared to 24,701 at this point last year.

That’s about a 3.2% decrease.

Now, that tells us sales activity is a little slower than last year.

But let’s put that into perspective.

We’re still talking about nearly 24,000 homes sold this year!

So people are absolutely still buying and selling real estate in Las Vegas.

WHAT ABOUT INTEREST RATES?

Now, here’s something I know a lot of buyers have been watching.

Mortgage rates!

According to Freddie Mac, the national average 30-year fixed mortgage rate was 7.24% on October 29th.

That’s down from 7.40% just two weeks earlier.

So we’re seeing a little improvement there!

Now, obviously, we’d all love lower interest rates.

But here’s something I always tell buyers.

Don’t just focus on the interest rate.

Look at the entire transaction.

Because sometimes the opportunity isn’t just in the purchase price.

It’s in what you can negotiate!

And that brings us to today’s…

GOOD ENERGY REAL ESTATE VOCABULARY!

Seller Concessions!

Okay, what exactly are seller concessions?

Let’s say you find a beautiful home here in Las Vegas.

It’s listed for $500,000.

And instead of asking the seller to lower the purchase price…

We negotiate for the seller to contribute $10,000 toward your eligible closing costs.

That’s called a seller concession!

And depending on your loan program, those funds could potentially help with closing costs, prepaid expenses, or even an eligible mortgage rate buydown.

Which might help reduce your mortgage payments.

Pretty cool, right?

Now, not every seller will agree to this, and of course, lender guidelines and limits apply.

But here’s why I love educating buyers about these options.

Sometimes getting the right terms is just as important as getting the right price!

And that’s where having a good negotiation strategy can really make a difference.

GOOD ENERGY TAKEAWAY

So, what did we learn this week?

We’ve still got over 11,000 homes available in Clark County.

New contract activity has picked up a little.

Mortgage rates have eased slightly.

And our latest report is showing some interesting changes in the pace of sales that we’ll continue to monitor.

For buyers, there may be opportunities to negotiate favorable terms.

And for sellers, remember…

Homes are still selling!

But with plenty of competition, pricing your home correctly and having a strong marketing strategy really matters.

So whether you’re buying your first home, selling your current one, or thinking about relocating to Las Vegas…

I’d love to help you figure out the best approach for your situation.

Because remember…

A home is more than four walls. It’s where your next chapter begins.

I’m Tommy Xavier Nguyen, The Good Energy Realtor.

Visit GoodEnergyRealty.com for more Las Vegas real estate resources.

And I’ll see you next week!