Las Vegas home prices slip as sales rise in April - 8 News NOW

Las Vegas home prices slip as sales rise in April

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LAS VEGAS - Las Vegas home prices fell from March to April, but home sales rose slightly, according to the Greater Las Vegas Association of Realtors (GLVAR).

GLVAR reports 2,615 homes sold last month, which represents an increase of 3 percent from March. Home sales were down 14.4 percent from April 2013.

The median price of a home sold in April fell to $192,000. That represents a drop of 1.5 percent from March and an increase of 15 percent from April 2013.

“We’re not surprised to see local home prices starting to level off a bit,” said GLVAR President Heidi Kasama in a statement. “The Las Vegas area has been among the national leaders in home price appreciation for the past two years. Prices have to balance out eventually.”

Kasama said home sales for the year are below last year's pace.

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