Nevada's real estate market is experiencing a price correction, with values down 7.7% from last year. Home prices have increased 6.3% in the past month alone. With 17 active listings, inventory is 113% higher than seasonal norms. Homes are taking about 15 days to sell, which is -1 days longer than this time last year. A significant 23.5% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Approximately 44.4% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Nevada market with the affordability index at 124.5. Market projections suggest continued price appreciation in the coming months as demand outpaces supply.