Las Vegas Homes Prices Increase, Sales Down

Las Vegas Homes Prices Increase, Sales Down

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LAS VEGAS -- For the second straight month, home prices showed a slight up tick from the previous year, according to the Greater Las Vegas Association of Realtors.

The median price of a single family home in May was $142,000 which is 1.4 percent more than in May 2009.

"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," said Rick Shelton, GLVAR president.

However, according to the GLVAR, the total number of local homes, condominiums and townhomes sold in May was 3,653 which is down from 3,738 total sales in April and down from 3,992 one year ago.

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