September 2, 2014
LAS VEGAS (AP) - Fueled by plummeting prices, home sales in Las Vegas went up dramatically in April.
That's according to a report from the Greater Las Vegas Association of Realtors.
The report shows single-family homes sales in April were up 7 percent over March and 78 percent over a year ago.
Condominium and town home sales increased by 20 percent from March and up 243 percent from the April 2008.
The median price of a single-family home sold in the Las Vegase area fell by 5 percent during the month, from $149,000 in March to $141,720 in April. This current median price is down 40 percent compared to $235,875 in April 2008.
Bank-owned homes accounted for 80 percent of all sales in southern Nevada.