Realtors: Vegas home prices up 31 pct. from 2012 - FOX5 Vegas - KVVU

Realtors: Vegas home prices up 31 pct. from 2012

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LAS VEGAS (AP) -

Home prices in the Las Vegas area are up 3.7% from a month ago and nearly 31% from last year as supply stays short.

Officials with the Greater Las Vegas Association of Realtors said Wednesday that the median price for a single-family home sold in April was $167,000, up from $161,000 in March.

That's still about half of what the median home price was in 2006.

Realtors say there were about 13,900 single-family homes listed for sale by the end of April, which is up 1.4% from the month before.

Officials say they're seeing short sales and traditional sales eclipse the foreclosure trend of the past few years. Foreclosures accounted for about 80% of all sales four years ago, and dropped to 10% in April.

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