las vegas real estate
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 number of new homes sold last month in the Las Vegas area has almost doubled compared with a year earlier.
U.S. home prices jumped 10.9 percent in March compared with a year ago, the most since April 2006. A growing number of buyers are bidding on a tight supply of homes, driving prices higher and helping the housing market recover.
Southern Nevada’s housing market started 2013 in much the same way it ended 2012, with rising prices and a tight supply.
With Las Vegas home prices rising yet again in December, the Greater Las Vegas Association of Realtors says the area ended last year in positive territory.
A new relief plan for Nevada homeowners will be announced next week.
Foreclosures are up in Nevada for the first time in nearly three years.
Nevada’s foreclosure rate is sixth in the nation after big drops in activity compared with last year. Among metro areas, Las Vegas is ranked 29th in the nation–with fewer foreclosures than at anytime in the past five years.
Las Vegas home sales continued to decline in July, but prices inched up, according to the Greater Las Vegas Association of Realtors.
For the first time in five years, banks have completed more short-sale transactions than foreclosures in the Las Vegas Valley.