Clark County median home price fell 5% in the third quarter, among the biggest drops in the nation, ATTOM report says

What happened

Home values in Clark County fell 5% in the third quarter of 2026, according to a new report from national real estate data firm ATTOM, the Nevada Current reported. That decline tied Clark County with Miami-Dade for the fourth largest drop among major metropolitan areas in the analysis.

The median home price in Clark County was $428,000 in the third quarter, according to the report. That compares with $440,000 in the second quarter and $450,000 a year earlier.

Where Clark County ranks

Middlesex County, MA, had the steepest decline among major metro areas, with prices down 11%. Orange County, FL, was second at 10%, and Duval County, FL, was third at 8%, ATTOM reported.

Washoe County moved the other way

In northern Nevada, Washoe County's median price was $590,500 in the third quarter. That was up from $588,750 in the prior quarter and from $550,000 a year ago, according to the Nevada Current.

The affordability gap

ATTOM's affordability analysis found that average annual incomes in both of Nevada's population centers are not enough to buy a median priced home there. The average wage is $67,678 in Clark County and $73,970 in Washoe County, the report said.

The analysis estimated the income needed to own a median priced home, assuming a 20% down payment. Across the 583 counties studied, major monthly home expenses were greater than the typical resident's wages in 80% of them, ATTOM reported.

The national picture

Nationally, the median home price in a metro area was $368,000 in the third quarter, down 1% from the second quarter and 2% from a year earlier. Owning that home would require an annual wage of $90,191, based on a $73,600 down payment, a $294,400 loan, and monthly mortgage, property tax and insurance payments of no more than 28% of income. The Bureau of Labor Statistics puts the average national wage at $79,534.

"Affordability remained a challenge in the third quarter, even as some of the underlying factors moved in a favorable direction," ATTOM CEO Rob Barber said in a news release. ATTOM also noted that interest rates are nearing highs last seen in 2023 and that the consumer price index rose throughout the quarter.

What local agents are seeing

Las Vegas real estate agent Geoff Lavell told the Nevada Current that Clark County home prices rose more than 40% between 2020 and 2025. "That's not sustainable because income didn't go up 40%. We have a disconnect," he said.

Lavell tied the run-up to job mobility that began with the pandemic, which let high earners working in places such as Cupertino and San Francisco live in Las Vegas and pay more for homes. "They threw our market out of whack, and now we're paying the price," he said.

Listings, price cuts and rates

Diane Varney, an agent who specializes in luxury homes, said young tech millionaires have kept the high end of the market strong and that she has had a great year. But since the last rate increase and talk of another, she said, "it seems like the pause button just got hit."

Varney cited Multiple Listing Service figures for Friday showing 161 homes listed, 210 homes with price decreases, and 83 homes sold. Las Vegas Realtors reports more than 10,000 homes for sale, a level not seen since 2014, the Nevada Current reported.

Lavell said sellers testing a home's value are meeting resistance, noting that buyers want to know why the same house is listed for $45,000 more. He said a drop in interest rates would bring "bedlam," though he said he highly doubts rates will fall to 5%. More housing coverage is in our real estate section.

What to watch next

• Whether another interest rate increase follows, after what Varney described as rumblings of one.
• Whether the more than 10,000 homes for sale reported by Las Vegas Realtors keeps climbing or eases.
• How interest rates, which ATTOM says are approaching 2023 highs, and rising consumer prices affect the next quarterly affordability report.