April 20, 2014
LAS VEGAS (AP) - Las Vegas-area home prices have rebounded from their one-month dip.
The Greater Las Vegas Association of Realtors reports Wednesday that the median price for a single-family home was $185,000 in October, up 2.8 percent from September.
October's median price was 32.1 percent higher than what it was a year ago.
Association chief Dave Tina says prices may drop again heading into the holidays, but says statistics show the area's housing market is stabilizing after volatile times in the past two years.
The report says the inventory of homes is growing. Nearly 7,100 single-family homes were listed by the end of October and didn't have any sort of pending offer on them. That's up 11.7 percent from September.