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Local Home Sales Up in December | Housing

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Local Home Sales Up in December

LAS VEGAS -- Although home prices decreased from November to December, more homes were sold, according the Greater Association of Realtors.

Their latest report shows the median price of a southern Nevada home is down 3 percent from one year ago. "At least this slight decrease is better than the 33 percent and 22 percent declines we saw in 2008 and 2009," said Paul Bell, GLVAR president.

In December, 25 percent of all homes sold in southern Nevada were short sales and about half of all sales involved bank-owned homes.

The year 2010 was the third best sales year on record with 43,877 homes being sold. The best year ever was 2004 during the boom when nearly 72,000 homes were sold.