Las Vegas Home Sales Increase by 85 Percent in March

LAS VEGAS — SalesTraq reported a median existing-home price of $134,900 in March, a 41.3% decline from the same month a year ago. Existing-home sales during the month increased 85.6% percent to 3,626 recorded closings. It’s the same trend housing analyst Larry Murphy of SalesTraq has seen for the past 11 months: rising sales and declining prices.

MP: If we tracked the real estate market the way we track auto sales (number of units sold regardless of price), we would conclude that the housing market is booming in places like California, Florida, Northern Virginia, the Twin Cities and Las Vegas. Unit sales for March are up significantly in all of those markets compared to March last year.


NY Times: Where Home Prices Crashed Early, Signs of a Rebound
Inman News: Home Sales Boom in ‘Busted’ Markets

About Mark J. Perry 262 Articles

Affiliation: University of Michigan

Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan.

He holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University in Washington, D.C. and an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota.

Since 1997, Professor Perry has been a member of the Board of Scholars for the Mackinac Center for Public Policy, a nonpartisan research and public policy institute in Michigan.

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