LAS VEGAS, Nev. (FOX5) – Las Vegas Valley home prices are still at record highs despite the rocky financial markets.
The report by Las Vegas Realtors says the average price of existing homes last month was $485,000, tying the all-time high.
“This is another indication of stability and how home prices have been increasing more gradually,” LVR President George Kypreos said. “At the same time, home buyers are benefiting from more homes available for sale and a recent drop in mortgage rates,” he added.
Local home sales have been rebounding from a slow year in 2023.
Prices are also up more than four percent from the same time last year.
The price of condos and townhomes jumped 8.5 percent compared to last year.
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