Housing affordability has come into question during the past few years when home prices rose at a greater percentage than salaries. In recent months, home prices have seemed to level off with a slight decline.

 The GLVAR (Greater Las Vegas Association of Realtors) most recent sales statistics support this contention. In January, GLVAR reported the median sales price of a single-family, detached home was $302,000, while the median sales price of attached condo/townhome was $204,450. These numbers may remain less than cities in Southern California, but more than the valley’s early 2004 housing median price when it hovered around $200,000.

Lower priced homes and assistance does exist, if one knows where to find them.

The resale market may offer lower-cost homes comparable to new ones, but sometimes there not much of a price difference because of builder incentives.

We’ve seen the median price of resale home sales go down slightly, and for the most part new-home prices have gone up. But, builders make up for that because they offer a multitude of incentives to buyers. Your may find a lower price on a resale. It ultimately comes down to what the terms are and what the incentives may be.

Bottom Line …… Get with a Realtor who stays on top of the local market conditions. Call us at 702-561-9562.