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July Home Prices Reach Milestone

First Time Average Hits $200,000 Since Economy Tanked
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(photo credit: Thinkstock)

(photo credit: Thinkstock)

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( Las Vegas, NV ) – A milestone for home prices in Las Vegas.

The Greater Las Vegas Association of Realtors reports the average price of a home sold here last month hit $200,000 – the first time that’s happened since the economy went south back on 2008.

That amounts to all of a tenth-of-a-percent bump from June’s average of 199-nine, but GLVAR’s President, Heidi Kasama, says it’s important.

A statement from the group quotes Kasama as saying “This tells you how far we’ve come back from the depths of our downturn a few years ago,” adding that it also shows -quote- “how much room we have before home prices in our area get back to where they were at their peak.”

That peak price was $315,000 in June 2006.

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