Home sales and prices rise, but so does number of ignored listings

According to a new report from the Greater Las Vegas Association of Realtors, the resale housing market picked up pace in June with rising sales and prices. The median sales price of single-family homes came in at $220,000, up 4 percent from the month prior and 10 percent from one year ago.

Meanwhile, the number of ignored listings on the market also kept climbing. In total, there were 7,432 single-family homes on the market without offers by the end of June. This was up 4 percent from both May and last June.

GLVAR President Keith Lynam said in a news release that it's good for local homeowners "when prices are appreciating at a healthy pace like this and more homes are selling."

Lynam also noted that banks are finally doing more to address the issue of "too many abandoned homes" in the area by beginning to clear the pipeline of foreclosed homes that filled up heavily during the recession.

Shawn & Kyle Cunningham

Cunningham Group at RE/MAX Advantage

(702) 823-0855 Shawn
(702) 823-0840 Kyle
Source: VEGASINC.com
Photo: STEVE MARCUS