Along with investor activity in the LV Valley, home resales across the U.S. are also in decline. According to the Greater Las Vegas Association of Realtors, resales in Las Vegas have declined both month to month and year over year. Sales agents have attributed this slump in local resales to a decline in foreclosures since 2011. Despite this slip in the resales category, overall U.S. home sales have increased 15.2 percent from a year ago, propelled by both job gains and low mortgage rates.
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Photo: JEFF SCHEID