According to a report from Sierra Nevada Realtors from June 2026, home inventory and new listings are down, while sale prices and closed sales are up.
For our current housing market, a professor at UNR says this means we still have a lot of demand, even though there are uncertainties with the economy. But again, it means our area is still attractive to buyers.
Brian Bonnenfant, the project manager for the Center for Regional Studies at UNR, tells us the factors that contribute to this demand.
Among them are demographics, he says. “The bell curve of the boomers is at its peak right now, so they're highly mobile. We're seeing a lot of that mobility coming to Nevada. Nevada has a great tax structure for them. And the housing here is a tad cheaper than in California, so we're still seeing an influx from the Californians."
One thing the professor pointed out that makes Nevada such a choice destination is the mountains we have in the area.
"We're running out of land, so we have to sprawl into whatever valley. The infrastructure has to follow, and the cost of infrastructure goes up every day, and so in our area it's really bounded by...flood plains and sensitive areas, so that adds to keeping those prices high in our area."
As for those who may be waiting for prices to drop? They say it's all about supply and demand, and it's tough to tell when prices might actually go down.
Bonnefant says, "What people have been waiting for since 2022 is to get off that seven percent mortgage rate and really get it under six. As you see that creeping towards that six mark, you see more buying, and it gets people off the fence to list their houses because there's more supply. So every time you see that interest rate or mortgage rate drop, you get a little bit more activity in the market."
But if interest rates do go below six percent, it's hard to tell whether there will be more buyers or sellers in the game.
If you're buying or selling, it's important to keep in mind that mortgage rates change daily, so keeping an eye out for deals and keeping your lenders close is what they say could help you most.
