Las Vegas resales posted solid increase in March

The spring real estate season in Southern Nevada kicked off nicely last month, with existing home sales again showing strong numbers. That has been the direction of this segment of the market for a long stretch now.

All in all, 2,980 single-family houses were sold then that translates to a serious jump of 30% from February, as was reported by Greater Las Vegas Association of Realtors, or GLVAR. The figure is double of that from March of 2008. As has been the pattern lately, distressed sales ruled the statistics and most of them were in the lower end of the market where first-time buyers and investors excitedly grabbed affordably-priced property.

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