After five years of declining prices, the real estate market in Las Vegas may have bottomed out, say some local realtors after slight week-overweek gains in February.
With the Canadian dollar running above parity, Canadians are cashing in their chips and putting coin down on property in the Silver State. According to the president of the Greater Las Vegas Association of Realtors, cash purchases on existing homes have been higher than 40 per cent for more than a year, topping 50 per cent in January 2011, due to international investor interest and tighter lending standards.
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