My Thoughts: Las Vegas Market Trends & What to Expect This Spring – February 2025

[Robert Adams]

As we move into February, the Las Vegas real estate market is showing positive signs of recovery after the holidays and the conclusion of the presidential election cycle. Our team has noticed an uptick in buyer demand paired with a continued decrease in housing inventory. The energy in the market is shifting, and we are anticipating that the January data reports, which will be released shortly, will reflect this momentum.

The chart below shows the annual cycle of decreasing inventory in Q1 every year for the past 5 years. Now that we are entering February, we will soon have the new data showing how we finished in January. As agents we tend to feel the pulse of the market shifting before the data hits the newsstands. If what we are feeling is accurate, the January data should show substantial increase in buyer demand.

Jan 1, 2020 to Jan 1, 2025 Inventory

While interest rates remain high, the demand from buyers is still strong. Many are eager to secure properties before the spring season fully kicks into gear. Historically, the spring market in Las Vegas is one of the busiest times of the year, and we’re already seeing signs that this year will be no different.

Although the current rates are presenting a challenge for some buyers, the pent-up demand from the past few months combined with the stability post-election is propelling the market forward. If we see any reduction in interest rates in the near future, we expect the market to become even more active, which would only amplify the already noticeable shift.

Jan 1, 2020 to Jan 31, 2025 Mortgage Rates

In summary, while we are still navigating some uncertainties with higher rates, the outlook for the Las Vegas real estate market in 2025 is promising. The spring market is shaping up to be one of the busiest in recent years. We’ll continue to monitor the data as it comes in and keep our clients informed as the market evolves.

Stay tuned for more updates as we continue to analyze the latest trends.