In the first quarter of 2026, Cadence, a master-planned community in east Henderson, Nevada, topped the sales charts with 311 net sales, despite a 11% decline from the previous year. The Las Vegas Valley experienced a significant downturn in new home sales, with total sales dropping 19% compared to Q1 2025. The rise in average mortgage rates, which increased from 6% to 6.46% for 30-year fixed mortgages, contributed to this decline. Following Cadence, Summerlin recorded 276 net sales, while the Villages of Tule Springs in North Las Vegas saw a 60% increase with 174 net sales. The overall market showed signs of strain, with March's new home sales down 43% from historical averages. The median closing price for new homes was $502,990, reflecting a 5.1% decrease from the previous year. Local experts attribute the slowdown to rising interest rates and ongoing geopolitical conflicts, which are likely to impact market trends moving forward.