After a flat start to the year, Las Vegas home prices are on the rise again.
The median sales price of previously owned single-family homes in Southern Nevada last month was $190,000, up 2.7 percent from January and 26.7 percent from a year ago, says a new report from the Greater Las Vegas Association of Realtors.
January’s median, $185,000, was the same as December’s.
After plunging during the recession, Las Vegas housing prices are rising at one of the fastest rates nationally, spurred in large part by investor demand for cheap rental homes.
There have been a few signs that the market is tapering off, though.
Last year, used-home prices dipped 1 percent in September as compared to August — the first time in almost two years that local prices fell month to month — and then slipped another 1 percent in November from October.