WASHINGTON — Once again, Las Vegas leads the nation — in annual home price decreases.
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Spurred by low prices and extension of the federal tax credit, existing-home sales in Las Vegas increased 50.8 percent to 3,952 in November, Las Vegas-based Sales- Traq reported Tuesday.
A cloud of foreclosures will hang over Las Vegas for at least a couple of more years and median prices will continue to fall in 2010, most likely by double digits, executives from two California-based real estate tracking firms said Tuesday.
WASHINGTON — Nevada still has the highest foreclosure rate within the U.S., but Las Vegas is no longer No. 1 among cities, a report being released today shows.
Homeowners struggling to avoid foreclosure got some good news Tuesday.
Las Vegas housing prices remained flat in November, while single-family home sales went into their seasonal slump at 3,117 closings, up 42.8 percent from the same month a year ago, the Greater Las Vegas Association of Realtors reported Tuesday.
CityCenter residential officials believe last week’s opening of the $8.5 billion project, coupled with a 30 percent price reduction implemented in October, will be enough of a catalyst to spur sales in the project’s remaining high-rise condominiums.
While the Las Vegas housing market is showing signs of recovery, it’s still feeling the effects of a lingering headache from “irrational exuberance” created by the housing boom from 2004 to 2006, a local housing analyst said.
WASHINGTON — Las Vegas’ housing industry got more bad news Tuesday.
