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Home Sales Drop in Southern Nevada in August | Housing

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Home Sales Drop in Southern Nevada in August
Housing

LAS VEGAS -- The Greater Las Vegas Association of Realtors says fewer homes were sold in August but prices were higher than one year ago.

The association said Thursday that the median price for single-family homes rose to $140,000. That's up more than 3 percent compared with August last year and nearly 4 percent more than July's median price.

More than 2,800 units sold last month, nearly 13 percent fewer than the number sold in August last year. Just under 3,000 homes sold in July.

Association President Rick Shelton says the decrease in sales is likely tied to a federal homebuyers tax credit that expired in April. Shelton says the year-over-year decrease in sales mirrors a spike in sales seen last year when the credit was available. 

(Copyright 2010 by The Associated Press. All Rights Reserved.)

 

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