LV housing market ready for a recovery?

That would be great. But will it actually happen any time soon? Difficult to say.

Lawrence Yun, the chief economist for NAR, or the National Association for Realtors, thinks it is just around the corner. In his opinion it could kick off in the latter half of this year. He was in town to speak to the group's Rocky Mountain Regional Conference and said that Las Vegas will be in the forefront of the upcoming turnaround.

Prices here have plunged to levels that make home buying very affordable again, like it was way back when. Mortgage interest rates remain low, drawing borrowers to fill home loan applications and buying homes. These are the two principal reasons to the currently strong resale market in Southern Nevada, and have obviously favorably impressed Mr. Yun.

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