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  • More On Mortgage Market Fallout [Housing Tracker] [View article]
    Hi Judy,

    I don't think I fully answered your question. Las Vegas appears to be healing, and you might say the very worst is over. That doesn't mean that home prices will stop falling, but that the rate of decrease will slow. The sales growth in August is encouraging, although sales are still dominated by distressed transactions (short sales and REOs).

    In Northern NV, I think there's more value to lose. I wouldn't be surprised if median sales prices fall another 10-20% before values stop decreasing. And I don't think anyone expects to see a rise in home values for at least another year, perhaps two.

    Hope that helps.

    Bill
    Sep 11 17:00 pm |Rating: 0 0
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