Home sales in Las Vegas rise 0.4% year-over-year in April, but prices fall 13% as foreclosures continue to dominate market
May 23, 2011
– New statistics from DataQuick show that Las Vegas home sales in April rose just 0.4% year-over-year, while prices fell 13% as foreclosures continued its dominance over the market, HousingWire.com reported May 19.
Home sales were down 9.5% from March, with about 4,500 new and resale homes and condos sold in the area.
The median price of US$116,500 was a 13% drop year-over-year and down 0.4% from March. The year-over-year price has now fallen for seven consecutive months, and the 13% decline was the highest since the median fell 17.2% year-over-year in February 2010.
The primary source of this article is HousingWire.com, Plano, Texas, on May 19, 2011.