Las Vegas real estate prices firming up in February

Southern Nevada homeowners should be mildly encouraged about the direction housing prices are going nowadays. Well, they aren't actually going much of anywhere, and that's what's good about it. They have put the breaks on the slide that seemed to go on forever and are seemingly stabilizing. Mortgage borrowers whose property is underwater can now hope that values will soon start heading in the other direction, up that is. And eventually lift them from the painful, wallet-busting submersion, whenever that'll be.


GLVAR, or Greater Las Vegas Association of Realtors, just released its latest stats for February to show that the median price stood at $135,694, a hard-fought $769 hike from January, or 0.6% improvement. The significance is that it's up at all. It's 12.8% below from February of 2009, though, a stark reminder of how tough the housing and mortgage markets have been, and still are.

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