Las Vegas Home Prices Still Rising

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(photo: MARK RALSTON/AFP/Getty Images)

(photo: MARK RALSTON/AFP/Getty Images)

(Las Vegas, NV) — Southern Nevada’s housing market started 2013 in much the same way it ended 2012, with rising prices and a tight supply.

The Greater Las Vegas Association of Realtors says the median price of a single-family home in Southern Nevada rose in January to $150,000, up 0.7% from December and up 27% from a year ago.

Traditional sales accounted for more than half of all deals last month, with short sales accounting for about 36%.

Realtors have a six-week inventory of homes, but the association says that’s not enough to meet demand.

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