LAS VEGAS (AP) — A report by a Las Vegas housing research firm shows home prices reached a new high in October as the number of lower-priced options remain sparse.
The Las Vegas Review-Journal reports a Home Builders Research report indicates the median sales price of homes in October was about $356,000, increasing by 6 percent from last year.
The report shows the median sales price for five of the last six months has been above the peak reached in August 2007.
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Builders sold 746 new homes in Clark County in October, totaling 7,392 so far this year. The sales are up by more than 14 percent from the same 10-month period last year.
Researchers say there is high demand for homes costing less than $250,000, but the supply is low.
