Las Vegas Real Estate Prices See Slight Rebound in May

Gay Las Vegas Real EstateSouthern Nevada home prices and sales rebounded slightly in May, according to statistics released today by the Greater Las Vegas Association of Realtors.

The 3,111 sales of single-family homes were about 1 percent higher than April and nearly 8 percent higher than May 2010. The median price registered a rare monthly increase, going from $125,000 to $126,000, but it’s still more than 11 percent below where it was a year ago.

Many housing analysts, however, aren’t expecting the increase to be a trend. Prices are expected to continue to decline because of foreclosures coming into the market.

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