LAS VEGAS -
Las Vegas home prices rose in January, according to the Greater Las
Vegas Association of Realtors (GLVAR). Despite the positive news, home
sales fell last month.
GLVAR reports the median price of a home sold in January was
$185,000, which matched the median sales price in December 2013, but
represented a 23 percent increase from January 2013.
While prices rose, sales fell. 2,067 homes sold last month - a drop
of 13.7 percent from December 2013 and a decrease of 9.5 percent from
GLVAR President Heidi Kasama says January is typically a slow month for home prices and sales.
"For the most part, I think these stable prices are an indication of a
fairly healthy housing market. At the same time, we're still dealing
with some challenges," she said.
Kasama says those challenges include the expiration of the Mortgage
Forgiveness Debt Relief Act in December 2013. Congress has yet to
extend that act.
Author:Ivy Beller Phone: 702-526-2298 Dated: February 15th 2014 Views: 2,540 About Ivy: Over 14 years experience in residential sales, land, multifamily and commercial. I am currently the...
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