Las Vegas home values inched higher last month but continued showing some of the biggest year-to-year gains in the country.
The median value of local homes in January was $168,800, up 0.7 percent from December and 26.9 percent from January 2013, according to a new report from housing-data firm Zillow.
The annual gain was second fastest among the 35 metro areas covered in the report. Riverside, Calif., was No. 1 at 27.3 percent.
Nationally, home values rose 6.3 percent in the past year.
According to Zillow, values are expected to continue rising locally this year but at a slower rate than in 2013, climbing 7.1 percent over the next 12 months.
Home values typically rise 2 to 5 percent in a normal year. In Las Vegas, ground zero for the housing bust, property values have skyrocketed largely because investors have been buying cheap homes in bulk to turn into rentals.