Local home sales rise 50.8% in June

August 2008
Las Vegas Business Press (10712186);8/4/2008, Vol. 25 Issue 31, p7
The article reports on the increase of local home sales in Southern Nevada by 50.8% to 2,226 in June 2008, according to the Greater Las Vegas Association of Realtors (GLVAR). The surge in sales was attributed to deep price cuts. It cites that the average sale price was $268,626 in June or 37.4% less than in 2007. GLVAR president Patty Kelly explains that the slight decline in the median price of homes and condominiums are due to the fact that about half of the homes being sold are owned by lenders or are short sales.


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