Las Vegas Home Sales Up, Prices Down
LAS VEGAS (AP) — Real estate agents in Las Vegas say there were slightly more homes sold in March than
during the same period a year ago. The Greater Las Vegas Association of Realtors reported
Tuesday that more than 4,300 homes were sold last month. That’s 72 more than were sold in March 2011, or a 4.4 percent increase.
Home prices have continued to decline. The median price of
single-family homes sold in March was $123,000, compared to a median price of $126,000 a year ago. More than 54 percent of all homes sold in southern Nevada were purchased with cash last month. Meanwhile, 27 percent of all existing local homes sold during March were short sales.
Copyright 2012 The Associated Press.