Real Estate:

Home sales and prices rise, but so does number of ignored listings

A house is shown for sale in Henderson.

Las Vegas’ resale housing market picked up the pace last month with rising sales and prices, although the number of ignored listings also kept climbing, a new report shows.

The median sales price of single-family homes in Southern Nevada in June was $220,000, up 4 percent from May and 10 percent from a year ago, according to the Greater Las Vegas Association of Realtors.

Buyers picked up 3,056 single-family dwellings last month, up 11 percent from May and 14 percent from June 2014.

Meanwhile, there were 7,432 single-family homes on the market but without offers by the end of June, up 4 percent from both May and last June.

The GLVAR reports data from its listing service, which largely comprises previously owned homes.

In a news release, GLVAR President Keith Lynam said it’s good for local homeowners “when prices are appreciating at a healthy pace like this and more homes are selling.”

And although there are “too many abandoned homes” in the area, “we see signs that banks may finally be doing more to address this issue," he said.

Lenders have been ramping up foreclosures in Southern Nevada, seizing homes that in many cases likely have been in default — and possibly empty and in disrepair — for a long time.

Creditors repossessed 677 homes in the Las Vegas area in May, the third consecutive month-to-month increase and the highest monthly tally in more than 2 1/2 years, according to RealtyTrac.

Industry pros say that banks are starting to clear the pipeline that filled during the recession, when new laws drastically slowed the foreclosure process on delinquent borrowers by requiring more paperwork from lenders.

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Real Estate

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