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Home Values Up For 19th Straight Month

LAS VEGAS (AP) — Las Vegas home prices keep rising, with the median sale price of a single-family home hitting $182,000 in August.

The Greater Las Vegas Association of Realtors reports Thursday that home prices have now climbed for 19 straight months.

More than half the sales in August — 52.5 percent — were for cash. But that’s down from a peak of 59.5 percent in February.

The report says the August median home price figure rose 1.1 percent from July, and has jumped nearly 32 percent from a year ago.

Association chief Dave Tina says prices may level out soon, but he doesn’t project they will drop.

The report says the inventory of homes is also growing. More than 5,600 homes were listed by the end of August, up 20 percent from July.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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