Home Prices and Sales Dip in Southern Nevada

Home Prices and Sales Dip in Southern Nevada

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LAS VEGAS -- The Greater Las Vegas Association of Realtors says the number of homes sold and average home sale prices dropped again in July.

The association said Monday that the average price for single-family homes dipped to $135,000. That's 3.6 percent less than homes fetched in June, and 2.7 percent less than average home prices in July 2009.

The number of units sold during the month was just under 3,000. That's a 12.3 percent drop compared with June, and 21.1 percent fewer than sold in July of 2009.

Association President Rick Shelton says fewer homes are being sold because a federal homebuyers tax credit expired at the end of April.

Shelton says the credit accounts for a 12 percent falloff in sales.

(Copyright 2010 by The Associated Press. All Rights Reserved.)

 

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