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Home Sales Surge At Record Pace
Sales Up 70 Percent From June 2008
POSTED: 9:51 am PDT July 8,
2009
UPDATED: 3:37 pm PDT July 8,
2009
LAS VEGAS -- Plummeting home prices have led to the largest surge in home sales in southern Nevada’s history.Statistics reported Wednesday by the Greater Las Vegas Association of Realtors showed 4,702 sales in June 2009.That’s an astonishing 70 percent increase since June 2008.Survey: Have You Purchased A Home In The Last Year?The number also tops the previous record month of 4,414 sales set in June 2004, when home prices were still climbing and the real estate bubble had not yet burst.In contrast, today’s market is looking much like it did in the early days of the housing boom. The GLVAR reports the median price for a single-family home is $140,000, on par with 2001 prices.Survey: Do You Think Las Vegas Home Prices Have Hit Bottom?The median price is also down nearly 40 percent from June 2008, according to the GLVAR.
Previous Stories:
- July 1, 2009: Nevada To Get Foreclosure Help Funds
- June 26, 2009: Lawyers Warn About New Foreclosure Law
- June 24, 2009: Vegas Home Sales Surge; Prices Plummet
- June 23, 2009: Vegas Economist: Upturn Unlikely Before 2011
- May 8, 2009: Vegas Tops Cities For Upside Down Mortgages
- April 29, 2009: Report: Vegas Home Prices Lowest Since 2000
- April 7, 2009: Short Sale Vs. Foreclosure: Which Is Better?
- March 24, 2009: Home Sales Increase In Valley
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