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Short Sales Driving Vegas Housing Market
Realtors Say Prices, Sales Down In January
POSTED: 10:54 am PST February 9,
2010
LAS VEGAS -- After reaching new heights in the number of foreclosures, southern Nevada is now seeing a surge in short sales as frustrated homeowners search for ways to solve their financial woes.“In January, 21.1 percent of all existing homes sold here were short sales,” said Greater Las Vegas Association of Realtors President Rick Shelton. “That’s an increase of about 2 percent from the previous month.”
Compare: Short Sale Vs. Foreclosure?Median home prices fell slightly last month, from $136,000 to $134,925, as did the number of homes sold compared to December 2009.Survey: Have You Or Someone You Know Had A Home Go Into Foreclosure?However, the agency points out that January home sales were up 17.3 percent from the same month last year.Meanwhile, the median price for condos and townhomes rose 5.7 percent in January, from $65,300 to $69,000, a positive sign for owners who have seen their home values fall precipitously since the housing bubble burst.Sales of condos and townhomes also fell last month, but were up 49.5 percent from January 2009.
Compare: Short Sale Vs. Foreclosure?Median home prices fell slightly last month, from $136,000 to $134,925, as did the number of homes sold compared to December 2009.Survey: Have You Or Someone You Know Had A Home Go Into Foreclosure?However, the agency points out that January home sales were up 17.3 percent from the same month last year.Meanwhile, the median price for condos and townhomes rose 5.7 percent in January, from $65,300 to $69,000, a positive sign for owners who have seen their home values fall precipitously since the housing bubble burst.Sales of condos and townhomes also fell last month, but were up 49.5 percent from January 2009.
Related Stories:
- January 14, 2010: Why Was Vegas Denied Foreclosure Funding?
- January 14, 2010: Nevada No. 1 As Foreclosures Break Record
- December 10, 2009: Signs Of Hope For Vegas Housing Market
- December 8, 2009: Vegas Nov. Home Sales Up From Year Ago
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