Home Prices Rise in November - 8 News NOW

Home Prices Rise in November

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LAS VEGAS - The Greater Las Vegas Association of Realtors reports home prices rose in November.

The median price of a home sold in Las Vegas was $146,000. That's an increase of 4.3% from October and up 16.8% from November 2011.

While home prices went up in November, home sales decreased. GLVAR reports 2,682 homes sold last month. That's a drop of 10.1% from October and a decline of 15.1% from November 2011.

In a statement, GLVAR President Kolleen Kelley cautioned that local home prices and sales typically drop during the winter months.

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