Las Vegas Housing Supply Rises 31% As Demand Stumbles, Pushing Sale Prices Down Slightly

(NASDAQ:RDFN) SEATTLE--(BUSINESS WIRE)-- #housingmarket--The total number of homes for sale in Las Vegas rose 31% year over year in July, the biggest increase of any major U.S. metro area and roughly triple the national increase. That’s according to a new report from Redfin, the real estate brokerage powered by Rocket. That marks a year straight of 20%-plus inventory increases for Las Vegas. Supply is piling up in Las Vegas because would-be homebuyers are sitting on the sidelines. Pending home sales fell 8.6% year over year