Market Conditions
Las Vegas Home appreciation Drops
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Las Vegas ranked 90th city in the nation for home appreciation in the second quarter '06 with an 11.87% increase from 1 year ago according to the Office of Federal Housing Enterprise Oversight.

Nevada, dropped to 19th state in the nation for appreciation.

Salestraq showed new home prices increased 16.3%, with a median price of $337,272.  Resale homes are up 3.2% with a median price of $289,000.

There were 20,609 homes listed for sale in the Realtors MLS system for July.  Last year there were only 10,929 listed.  That equates to a 9-10 month supply of homes.

Existing home sales are down 16.7% through July '06.