Las Vegas Home Prices Rise in December - 8 News NOW

Las Vegas Home Prices Rise in December

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LAS VEGAS - Las Vegas home prices climbed in December, according to the Greater Las Vegas Association of Realtors.

The median price of a home sold in the valley reached $185,000 - a slight increase of 1.1 percent from November, but 24.2 percent higher than in December 2012.

GLVAR President Heidi Kasama applauded the numbers.

"Local homeowners should be happy with the strong appreciation we've seen over the past two years," Kasama said in a statement. "We haven't seen increases like this since the middle part of the last decade. Like most housing experts, I expect to see more stable home prices in 2014."

Nearly 2,400 homes sold last month, a sharp decline of 19.1 percent from 2012, but an 8.8 percent increase from November.

Short sales made up 20.7 percent of all existing home sales last month. Eight point seven percent of December sales were bank-owned properties.

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