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Go figure....sales climb and prices fall.

Bargain-hunters are snapping up foreclosed properties in town as well....I am so excited! California & the Las Vegas markets are very similar. one realtor in California said that 90% of his business was foreclosure home sales. 

My real question is why is'nt there more positive news on the Las Vegas Market? Is it close to coming out? guess we will wait and see

here is more  news:

The U.S. trade deficit shrank 4.1% in June to $56.8 billion, surprising economists who had expected an increase, the Commerce Department said August 12. Record U.S. exports of $164.4 billion helped shave the deficit to its lowest level in three months.

Consumer inflation rose 0.8% in July, double analysts' expectations, the Labor Department reported August 14. Following jumps of 0.6% in May and 1.1% in June, inflation is running at its fastest rate in 17 years. Core inflation - which excludes food and energy costs - increased 0.3% in July, slightly higher than Wall Street's 0.2% forecast. Some inflation relief could be on the way, however, as gasoline prices have been falling in recent weeks.

Retail sales dipped 0.1% in July, just below the flat reading economists had predicted, the Commerce Department said August 13. If not for a tumble in auto sales to the lowest level in 16 years, retail sales would have posted a 0.4% gain.

On the housing front, the median price for a single-family home fell 7.6% to $206,500 in the second quarter of 2008, down from $223,500 a year ago, the National Association of Realtors^® said August 14. Meanwhile, former Federal Reserve Chairman Alan Greenspan told the Wall Street Journal on August 13 that "home prices in the United States are likely to start to stabilize or touch bottom sometime in the first half of 2009."

For the week of August 14, rates on 30-year fixed-rate mortgages were unchanged from the previous week, Freddie Mac said.

This week, circle August 19 on your economic calendar, the day reports on housing starts, building permits and wholesale inflation will be released.