Market Update – What You Need to Know!

(Based on past 3 months of Las Vegas single family home market data)

Did the value of homes go up or down?

June: $497,000

July: $490,000

August: $482,000

*Based off median prices

On average,how long would it take to sell my home?

June: 22 days

July: 23 days

August: 27 days

What are interest rates today?

30-Year Conventional: 7.22%

30-Year VA Loan: 6.82%

Mortgage Rates Jump Ahead of Fed Decision

Mortgage rates have climbed for six consecutive days, reaching their highest levels since January 2025. The average top-tier 30-year fixed rate is now around 7.22%, with 7.25% the most commonly quoted rate—an increase of roughly 0.33% in less than a week. The jump comes as markets react to economic data, inflation concerns, oil prices, and expectations surrounding the Federal Reserve’s upcoming decision.

Meanwhile, the economy continues to show strength. New Census data show inflation-adjusted median household income rose 2.6% to $87,460 in 2025, while the poverty rate declined to 10.2%.

For buyers: Expect some near-term rate volatility. Instead of trying to perfectly time rates, focus on the purchase price, monthly payment, available concessions, and whether the overall deal makes sense.

Airfares Taking Off

Domestic airfares have risen about 12% since March, driven largely by higher jet fuel costs and the conflict with Iran. Las Vegas is seeing an even sharper increase, with fares up roughly 21%. Southwest, which carries 37% of Reid International passengers, is up about 18%.

Higher-income travelers may help cushion the impact, but first-time Las Vegas visitors have fallen to a record-low 8%, down from nearly 25% in 2019—a trend worth watching for the tourism-driven economy.

Non-Fliers Can Go to the Gates

Reid International is now participating in Gateside by TSA PreCheck, allowing eligible non-travelers to pass through security without a boarding pass. TSA PreCheck members can apply for a free, one-day pass 1–3 days in advance to meet loved ones at the gate, see travelers off, or visit someone during a layover. Las Vegas is one of 13 airports participating in the pilot program.

If you’ve got questions about real estate or just want to catch up, don’t hesitate to reach out. And if you know anyone who might need a little guidance with their home search or sale, feel free to pass along my name—I always appreciate the referral!