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Home sales slow as prices continue tumble
Tuesday, Feb. 10, 2009 | 8:33 a.m.
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The pace of home sales slowed in January as the price continued to tumble, according to statistics released this morning by the Greater Las Vegas Association of Realtors.
Median home prices fell 8.6 percent in January to $160,000 and show no sign of abating. The price is 49 percent below the market high of $315,000 recorded by the GLVAR in June 2006. Prices have fallen 36 percent since January 2008.
There were 2,224 sales in January, an 11 percent decline from December. Sales, however, are still ahead of January 2008 by 126 percent, according to the GLVAR, which tracks all home sales using the Multiple Listing Service.
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FYI: this is no longer NEWS. let it go....just let it go, I'm sure if you really try, you can find something else to print. Thanks.
at least the Sun is no longer telling people to buy homes because we've hit rock bottom.
You can never pick the exact bottom, but we are close and anyone buying now, and getting the best deal they can on the a well located property WILL be a winner in the years to come!
"Home sales slow"? Home sales in January were up a staggering 126 percent compared with a year earlier. (See paragraph at end of story) Industry insiders don't need to say it's a great time to buy a home, which it is if you want a HOME. Obviously, consumers have made that decision and we're seeing it in the numbers.
Go buy a house! NOW!!!
Have I mentioned that before?
It is a great time to buy.
But prices will probably go down some more.
We are at the bottom of the interest rates. It will a very long, if ever, to see similar rates.
The government is going to flood the bond markets with $3 to $5 trillion in federal bonds the over the next 2 years so interest rates are already starting to climb.
Just saw a short sale go from an offer of $225K, then $240K, then $270K, though I hear the biggest one fell through. Still, that's good news!