Las Vegas Home Prices, Sales Continue Increase
LAS VEGAS (AP) — Real estate agents in Las Vegas say there were slightly more homes sold in April than during the same period a year ago.
The Greater Las Vegas Association of Realtors reported Tuesday that more than 3,924 homes were sold last month. That’s 22 more than were sold in April 2011. Home prices also improved. The median price of single-family homes sold in April was $128,000, compared to a median price of $125,000 a year ago.
Nearly 55 percent of all homes sold in southern Nevada were purchased with cash last month. Meanwhile, 30 percent of all existing local homes sold during April were short sales. At the peak of the housing crisis in June 2010, 34 percent of all sold homes in southern Nevada were short sales.
Copyright 2012 The Associated Press.