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Las Vegas Residential Real Estate Sales Had Its Best December In 5 Years

DQNews 02/05/2010 11:05
Las Vegas Residential Real Estate Sales Had Its Best December In 5 Years - US - Las Vegas - property sales - property market


Despite shrinking national home sales nationwide in December, the Las Vegas region had its best December in five years. Foreclosures are still accounting for a majority of home sales, though, which contributed to 32 consecutive months of year-over-year median sale price decreases.



The number of homes that resold in the Las Vegas region in December shot up to its highest level for that month in five years amid robust sub-$200,000 sales and strong demand from investors. The overall median sale price, including newly built homes, dipped slightly from November, while several other price gauges suggested home values have changed little in recent months, a real estate information service reported.

Foreclosure resales continued to wane in the Las Vegas market but still accounted for more than half of all December transactions, according to MDA DataQuick of San Diego. The firm tracks real estate trends nationally via public property records.

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