December and End of 2008 Median Price Report - Las Vegas

By
Real Estate Broker/Owner with RE/MAX Advantage

The End of the Year. Las Vegas finished what is the worst decline in home values in a calendar year for 2008.  December posted the second highest decline in median price across the entire GLVAR MLS for the year following September's decline.   What do the coming months in 2009 have in store for home prices?  Positive-change of guard in Washington DC with significant optimism.  Negative-rollbacks in loan limits with FHA financing where buyers can buy with 6.5% less money down than conventiona loans.  How much room is there between here and the bottom?  It's still the day's most asked question.  Consider this...virtually every value of homes on the market is priced BELOW replacement cost today.  One has to wonder is the bottom near?

CLICK HERE TO DOWNOAD THE END OF YEAR MEDIAN PRICE REPORT

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