LAS VEGAS HOME PRICES
House prices in Las Vegas have fallen into undervalued territory, according to new data from research firm Global Insight and bank National City Corp. It’s the first time in five years that statistics from the first quarter have shown undervalued housing prices here:
| First quarter of each year |
| | 2004 | 2005 | 2006 | 2007 | 2008 |
| Local median price | $296,000 | $259,800 | $290,200 | $286,100 | $232,600 |
Value change
from historic norm | +3.7% | +20.7% | +29.9% | +22.9% | -3.1% |
Source: Global Insight/National City Corp |