Home buyer/seller sentiment often follows what is read in the news. An article in MSNBC suggest that the housing market won't be turning quickly. They give 4 reasons it will take some time:

1. More looming foreclosures to come
2. The Mortgage lending system is broken
3. Consumer confidence is in the toilet
4. There is a larger underlying inventory than most people realize

He concludes that we may have found a marginal bottom to the slide but it will take some time to begin to climb again.

To learn more specifically about the Nevada/Las Vegas real estate market (as mentioned in the article) contact your Las Vegas real estate agent.