Nevada home prices continue ascent as sales drop - 8 News NOW

Nevada home prices continue ascent as sales drop

Posted: Updated:
LAS VEGAS -- Home prices in Nevada continued to rise in April but sales volume fell below where it was a year ago, RealtyTrac reported Wednesday night.

Nevada homes sold for $165,000 on average last month, a 2 percent increase over March and an 18 percent increase over the same month in 2013, according to the real estate analytics company from Irvine, Calif.

But statewide home sales volume in April dropped one half of 1 percent from March and 8.7 percent from a year ago.

In Las Vegas, meantime, short sales and distressed sales accounted for 37.7 percent of all residential sales last month, the highest percentage in the nation among major metropolitan areas.

Home sales nationally rose 4 percent in April compared to a year ago, and average prices were up 11 percent over the same period.

“April home sales numbers are exhibiting the continued effects of low supply and still-strong demand that exist in many markets across the country,” RealtyTrac vice president Daren Blomquist said.

“Annualized sales volume nationwide decreased on a monthly basis for the sixth consecutive month and the 4 percent annual increase in April was the lowest year-over-year increase so far this year. Meanwhile, median home prices nationwide increased to the highest level since December 2008.”

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KLAS. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.