Home Price Still Rising
LAS VEGAS (AP) — The Las Vegas housing market continues to sizzle, with a new report putting the median sale price of existing single-family homes at $180,000.
The Greater Las Vegas Association of Realtors is reporting Thursday that home prices have climbed for 18 straight months.
More than half the sales in July — 54.5 percent — were for cash. But that’s down from a peak of 59.5 percent in February.
The report says the July median home price figure rose 2.9 percent from June, and has jumped a whopping 35.3 percent from a year ago.
Association chief Dave Tina says prices are still far below the peak of $315,000 in June 2006.
The report puts the median sale price of condominiums and townhomes in July at $91,500.
That’s up 6.4 percent from June.
Copyright 2013 The Associated Press.