Home-price slump isn't leaving Las Vegas

Report: Declines may 'darken the recovery cloud'

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Sales of resale homes in the Las Vegas area rose for the seventh consecutive month in July but were down 7.6 percent compared to the same period last year, and the resale median price was down 24.5 percent year-over-year in July, a research company reported.

The Las Vegas metro area had steep climbs in home sales and pricing during the boom years (see Inman News report) but has since ranked among the hardest-hit markets during the current slump, with high levels of foreclosures and price declines.