Las Vegas Home Sales Double
Another gauge analysts watch suggests greater price declines: The median price paid per square foot for resale detached houses fell to $108 in September, down 34.9% from a year ago and down 43.2% from the $190 peak reached in June 2006.
The median sale price - the point where half of the homes sold for more and half for less - has plunged for several reasons: Widespread home price depreciation; higher prices and qualifying standards for "jumbo" mortgages, which has undermined higher-end sales; and buyers' preference for discounted foreclosures. About 82% of the Las Vegas-area houses and condos that resold in September had been foreclosed on at some point in the prior 12 months.- Loading Comments...
- Loading Comments...
Featured Photo Galleries
Connect with TheStreet
 |
 |
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,411.87 | 1,111.00 | 2,200.04 | 33.86 |
Oil *
78.78
|
|
UP
141.40
|
UP
17.52
|
UP
32.16
|
DOWN
0.43
|
10 Yr
3.39%
SPDR Gold
111.24
|
|
+1.38%
|
+1.60%
|
+1.48%
|
-1.25%
|
Data delayed 20 minutes |
