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Home Sales Prices Up In December

Latest Report From Local Realtors
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(Photo by Justin Sullivan/Getty Images)

(Photo by Justin Sullivan/Getty Images)

Nate Tannenbaum Nathan Tannenbaum
Email Nathan at nathan.tannenbaum@cbsradio.com
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LAS VEGAS (AP) — Southern Nevada home prices ended the year on a positive note, landing 24 percent higher than they were 12 months earlier.

The Greater Las Vegas Association of Realtors reported Wednesday that December’s median home price was $185,000, up 1.1 percent from the month earlier.

Association chief Heidi Kasama says prices have been rising since they bottomed out at $118,000 in January 2012, but notes the jumps have stabilized in recent months and are expected to remain steady in 2014.

The median home price remains well below the June 2006 peak of $315,000.

Kasama says 2013 also brought a shift toward more traditional sales as fewer homeowners lose their houses to foreclosure or put them up for a short sale.

The association reports 62 percent of sales in 2013 were traditional.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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