Will Mortgage Interest Rate Increases Throw Cold Water On Las Vegas Home Prices? For the past 18 months or so Las Vegas home buyers have seen home prices accelerate to new levels. In 2021 the median sales price of homes in Las Vegas rose 26.8% to $450,000. In early 2022 home prices have increased another 3.4%. Now it will be more expensive to borrow money to buy a Las Vegas home. Mortgage interest rates have increased from around 3% to 5% in the past few months. That increase will add $300 to $500 in monthly interest payments for houses priced near the median price. Some real estate veterans think this will not be enough to cool down the real hot residential home sales in the city. In addition, a professional home buyers company in Las Vegas has stated that it is far more difficult to find a house to repair and remodel with these price increases.