Las Vegas home prices kept rising last month even though the valley’s inventory shortage, a key reason for the market’s turnaround, showed signs of easing.The median price of a previously owned single-family home sold in Southern Nevada in June was $175,000, up 33 percent from almost $132,000 a year earlier, according to a report out Tuesday from the Greater Las Vegas Association of Realtors.Overall, inventory remains relatively tight. A total of 13,750 single-family homes were up for sale on the GLVAR’s listing service at the end of June, down 19 percent from a year earlier. However, more homes were available for sale without any kind of offer attached to them.By the end of June, 3,828 single-family houses were listed without an offer, up 4 percent from a year earlier. There were 1,464 such condos and townhomes, up 35 percent from a year ago.
via Las Vegas home values still posting big increases – VEGAS INC.
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