Las Vegas, NV Median Home Price Leveling Out

So what does it mean that the Median Home Price for Las Vegas has leveled out over the last 12 months?

See the chart below.

Will Buyers sell? Even though the median price has stayed at the relatively same level for the last 12 months - seasonal sales have continued to drop from 2009 levels in 2010. In March 2009, there were 2,425 homes sold as compared to 1,588 homes sold in March 2010.

What does it all mean?

Home Values Are Rising!

The news is improving in some places. Below is a chart tracking the Median Home Price in Arlington County, VA for the last 18 months or so. When comparing May 2009 (where Median Home Price was $456 K) and May 2010 (where Median Home Price was $520 K) we have seen a nice increase.

Click on the image below for a larger view of the chart.

We hope this positive sign shows in other places around the country in the remainer of the summer.