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Vegas Housing Sales Up, Prices Down

LAS VEGAS (AP) — Real estate agents in Las Vegas say there were more homes sold in November compared with the year before, but home prices have dropped 7.3 percent in that time.

The Greater Las Vegas Association of Realtors reports Thursday that 3,883 homes, condos and townhomes were sold last month, up from 3,510 sales in November 2010.

The median price of $125,000 is down from last November’s median price of $134,900.

There were just two more home sales in November than October. But prices showed a 3.3 percent month-to-month gain.

Realtors association president Paul Bell says the modest price gain indicates a strong demand for housing in Southern Nevada, and fewer homes on the market. He says home sales especially are picking up in master-planned communities near large employment centers.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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