Las Vegas real estate numbers keep improving

May housing numbers for Southern Nevada are mostly positive. Not too long ago all the key indicators were heading in the wrong direction, but that trend seems to be now history. Recent history for sure, but history anyway. The one truly worrisome category that keeps churning out high figures is the foreclosure filings and it may unfortunately stay that way for a while longer.

On the positive front, as reported by local research shops SalesTraq and Home Builders Research, resales grew 5.2% in May as compared to a year ago, totaling 2,606 homes sold. Bank foreclosures played a large role in this as lenders have slashed prices to unload properties they don't want to keep in their books. Attractive pricing has certainly nudged home buyers and investors off the fence where they've been sitting for the last couple of years. Median values have slumped over 20% from the high of $290,000 in October of 2006. As sales improve, it could also mean that further price declines are unlikely.

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