As house-hunters face high prices and elevated borrowing costs, most homes on the market in Las Vegas are out of reach to the typical buyer.

That’s according to a new report from personal-finance site Bankrate, which found that only 14 percent of available homes in Southern Nevada were affordable to the typical household in the region.

Nationally, the share of affordable homes was around 25 percent, said Bankrate analyst Alex Gailey.

Southern Nevada’s population has grown fast for decades , fueled in no small part by its history of relatively low housing costs. But record-high home prices and elevated mortgage rates have now made it increasingly difficult for many would-be buyers to afford a purchase in the Las Vegas Valley, and sales totals are tumbling.

According to Bankrate’s study,

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