Vegas Home Prices Continued to Drop in October - 8 News NOW

Vegas Home Prices Continued to Drop in October

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LAS VEGAS -- Real estate agents in Las Vegas say there were more homes sold in October compared to the year before, but home prices continued to fall.

The Greater Las Vegas Association of Realtors published a report Tuesday showing nearly 3,900 single-family homes were sold last month at a median price of $121,000. Fewer than 3,400 homes sold in October last year. The median price was down 1.9 percent from September and down 9 percent from October 2010.

There were more than 10,300 homes listed without any sort of offer last month. That's down 16.4 percent from a year ago. Half of all homes sold last month were purchased with cash.

That's down slightly from 50.7 percent in September.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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