Las Vegas Market on Rebound

There's a glimmer of hope in the neon city of Las Vegas Nevada, where home sales are starting to heat up after 2 1/2 dismal years. In fact, sales in Las Vegas have risen over the past six months and with the New Year starting We should expect even greater sales
Bank-owned foreclosed properties are setting the pace. With prices falling, the homes are grabbing attention. The median home price was $225,000 in June, down from a peak of $315,000 in June 2006. "About 60% of everything that is selling is foreclosed properties," says Patty Kelley, president of the Greater Las Vegas Association of Realtors. "A feeding frenzy of buyers is coming in and picking up property at the 50 cents to 60 cents on the dollar that owners had paid for it." With Monthly sales volumn up 50.8 % for Las Vegas and 14.2 % up for Nevada but Down 14.8 % for the US , Nevada is looking pretty good..