Prices for Distressed Nevada Homes Jump in First Quarter

By: Associated Press Email
By: Associated Press Email

LAS VEGAS (AP) - Prices for Nevada homes in default or foreclosure made some of the highest leaps in the country in the first quarter.

RealtyTrac reports Thursday that prices rose 23 percent year-over-year for Nevada homes that had entered the foreclosure process but weren't in the hands of the bank yet.

The prices for bank-owned Nevada homes jumped 22 percent in the first quarter of 2013, compared with the same period last year.

The price hikes reflect a dwindling supply of homes in Nevada's rebounding market. The tight inventory has encouraged Vegas-area builders to double the number of new-home permits they pulled this time last year, and prompted fierce bidding wars among bargain-seekers.

Real estate tracking firm Trulia earlier this month called Las Vegas the most undervalued large metro market in the U.S.


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
KOLO-TV 4850 Ampere Drive Reno, NV 89502
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 209505421 - kolotv.com/a?a=209505421