If anything, the Southern Nevada real estate market is staying on the same path from last month. It's on a slow and steady downward slide. Hopefully not too much longer, though.

Home Builders Research reports for July that sales at the resale sector declined over 40% from a year ago and for new homes the figure is almost the same. As you can see, the distress is pretty evenly divided. From June to July the drop was much gentler, an encouraging sign. The news are somewhat better on the price side. Existing home values gave up only 4.3% from last year to $276,500, while new homes held the slide to 2.6%, down to $327,790.

How far does the real estate market have to go before the recovery starts? To read the full article, please click on the link in this paragraph.