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Housing Prices Rebound In October

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(photo: Ethan Miller/Getty Images)

(photo: Ethan Miller/Getty Images)

tate south Tate South
Email Tate at tate.south@cbsradio.com
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LAS VEGAS (KXNT/AP) — Las Vegas-area home prices have recovered from their one-month dip.

The Greater Las Vegas Association of Realtors reports Wednesday that the median price for a single-family home was $185,000 in October, up 2.8 percent from September.

October’s median price was 32.1 percent higher than what it was a year ago.

Speaking with KXNT Wednesday morning, GLVAR president Dave Tina says prices may drop again heading into the holidays, but statistics show the area’s housing market is stabilizing after volatile times in the past two years.

The report says the inventory of homes is growing. Nearly 7,100 single-family homes were listed by the end of October and didn’t have any sort of pending offer on them. That’s up 11.7 percent from September.

 

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 This material may not be published, broadcast, rewritten or redistributed.

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