Las Vegas used-home prices were flat again last month as buyers drastically cut back on purchases, amid a months-long slowdown in deals, a new report shows.
The median sales price of single-family homes in Southern Nevada in November was $220,000, unchanged from October but up 8.9 percent from the same month a year ago, according to the Greater Las Vegas Association of Realtors.
Homeowners sold 1,973 single-family houses last month, down 27.5 percent from October and 2.9 percent from a year ago.
Meanwhile, there were 7,772 single-family homes listed for sale but without offers by the end of November, down 4.5 percent from October and 5.2 percent year-over-year.
The GLVAR reports data from its listing service, which largely comprises previously owned homes.
The valley’s median sales price has been largely the same since June, and sales volume has dropped for four consecutive months, according to GLVAR data.