“Average asking prices for homes in Las Vegas have been reduced 16 percent, or $61,776, from November, San Francisco-based Trulia.com reported Wednesday.”
The average price after reduction was $331,589 as of Feb. 1, compared with $393,365 before the reduction, the online real estate firm showed.”
Above is from Las Vegas Review Journal Wednesday, Feb. 21, 2010
Average asking prices for homes for sale in Las Vegas is not and has not been anywhere around $393,000 and has not dropped by $61,000. I believe these may be San Francisco numbers.
I also strongly agree with a couple real estate analysts Dennis Smith and Larry Murphy that we have not seen any price drop for homes that are priced below $250,000 in the last 6 months.
Here is what Mr. Smith says in the same article:
“All I can tell you is look at price per square foot of homes that closed escrow. It’s been consistent for both new and resale for the last seven months,” Smith said. “I don’t know about San Francisco and Indianapolis. I just look at Vegas.”
Same here!
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