Las Vegas real estate stats down in January

Southern Nevada - including Summerlin, Rhodes Ranch, Anthem, Southern Highlands, Mountains Edge and Spanish Trail - housing market has shown some stability over the last several months, essentially all through last fall and in December. The important numbers cautiously moved in the right direction, or at least didn't get much worse. Appealing mortgage rates continue to excite buyers, as do enticing prices especially in the lower half of the Las Vegas real estate spectrum. The new year started a little bit on an iffy note, though.

There were 2,608 existing single-family homes sold in January, 864 less than in December, adding up to an almost 25% drop, so reports GLVAR, or Greater Las Vegas Association of Realtors. That has got the attention of everyone who follows the housing market here. It could be just an odd departure from the generally positive direction of late. Hopefully so. On the other hand, these resales were a respectable 17.3% higher from the same month a year ago.

The single-family median price gave ground to the tune of 0.8% from December, settling in at $134,925. Nothing major here. It has actually been bouncing for months between a narrow range, and is obviously trying to set the true bottom, which might be within sight. However, this does signify a 15.7% decrease from January of 2009.

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