Las Vegas Home Prices Stable Despite Fewer Sales

June 9, 2010

in News

Las Vegas Home Prices Stable Despite Fewer Sales

Las Vegas home prices increased for the second straight month compared with a year ago, while sales declined and inventory remained stable, the Greater Las Vegas Association of Realtors reported Tuesday. The median price for 2,884 single-family homes sold in May was $142,000, up 1.4 percent from the same month a year ago and unchanged from the previous month. Prices have generally been falling since February 2007. The median price of condominiums and townhomes also increased in May to $72,000, up 2.9 percent from April and up 10.8 percent from a year ago. Sales rose 4.3 percent to 769 units. Realtors association President Rick Shelton said he was encouraged by the statistics. “I think most homeowners consider stable or appreciating home prices to be good news, especially considering the way the housing market has been the past few years,” he said. [Read this article]

{ 1 comment… read it below or add one }

Grant Hammond June 9, 2010 at 1:48 pm

It’s nice to see prices begin to stablize in LV. Perhaps banks are starting to hold their ground on prices?

Leave a Comment