Vegas Home Prices Down to 1999 Levels

[vegasrocks]

Home prices in Las Vegas have fallen once again I guess. They are clear down to what they were in 1999!

Not only have prices dropped again in Las Vegas but nationwide. Not quite as bad as in Las Vegas for most places but down to levels comparable to 2002.

In Las Vegas, prices in March were down 1.1 percent on a month-to-month basis and were off 5.3 percent on an annual basis.

On a seasonally adjusted basis, Las Vegas prices fell 0.6 percent from February to March.

Some places that have been hit worse than Las Vegas are Chicago, Minneapolis and Phoenix.

It's bad news for sellers but great for buyers. If you have been thinking about a vacation home in Las Vegas now is a great time for getting it.

[IluvVegas]

Its a real shame that things have to be this way but since things all run in cycles, I think we can look forward to the time when homes appreciate again instead of depreciating in value as they have been.

If I had a summer home, I dont think it would be in Vegas though, too many casinos!!!!! lol