LAS VEGAS (AP) - A trade group report indicates that home prices in Las Vegas are continuing to climb and could reach the pre-recession peak this year.
The Las Vegas Review-Journal reports the median sales price of single-family homes was $295,000 last month, a 2.1 percent increase from April and an 18 percent jump from May 2017.
According to the report from the Greater Las Vegas Association of Realtors, 3,140 single-family houses traded hands, increasing by 9.1 percent from April but falling by 10.7 percent from the previous year.
People were interested in these podcasts
The median sales price of homes previously peaked in mid-2006 at $315,000 and bottomed out in early 2012 at $118,000.
Association President Chris Bishop says the home prices could reach the previous peak “sometime later this year.”
___
Information from: Las Vegas Review-Journal, http://www.lvrj.com
Please read our comment policy before commenting.