August 21, 2014
LAS VEGAS (AP) - Home prices in the Las Vegas area are up 3.7 percent from a month ago and nearly 31 percent from last year as supply stays short.
Officials with the Greater Las Vegas Association of Realtors said Wednesday that the median price for a single-family home sold in April was $167,000, up from $161,000 in March.
That's still about half of what the median home price was in 2006.
Realtors say there were about 13,900 single-family homes listed for sale by the end of April, which is up 1.4 percent from the month before.
Officials say they're seeing short sales and traditional sales eclipse the foreclosure trend of the past few years. Foreclosures accounted for about 80 percent of all sales four years ago, and dropped to 10 percent in April.
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