Las Vegas Home Sales Dismal in July, But Prices Creep Up

Las Vegas Home Sales Dismal in July, But Prices Creep UpHome sales in the Las Vegas area remained dismal again during July, with sales at the their lowest level since July of 2008, but home prices continued to improve as fewer foreclosure re-sales pushed prices higher according to the latest data released from DataQuick.

A total of 4,280 new and resale houses and condos closed escrow in the Las Vegas-Paradise metro area in July. Sales were 3.3 percent lower than the 4,423 homes sold in June and were 5.6 percent lower than the 4,535 homes sold in July of 2011. Home sales for the month were the lowest since 2008.

Home sales in the region typically decline 8.2 percent between June and July and were 11.6 percent below the average number of homes typically sold during the month.

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Authored By Shirley Allen – See the Full Story at Loan Rate Update

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