Rising House Prices in Las Vegas and Implications

Posted: Sep. 27th, 2012  |  By Michael Pearse
Las Vegas Suburbs
Ethan Miller/Getty Images

With industries nationwide reporting that this summer has been relatively successful (relative to the last few years, of course), it’s not much of a surprise that Las Vegas real estate property values rose as well. With home prices being a heavy indicator of the state of our economy, this is welcome news that will hopefully mark end of a rough time in the United States.

Home prices in a widely watched survey climbed more than forecast in July from a year earlier with Las Vegas showing short-term gains but a year-over-year loss.

The S&P/Case-Shiller index of property values in 20 cities increased 1.2 percent from July 2011, the biggest 12-month advance since August 2010, a report from the group showed Tuesday in New York. The median forecast of 23 economists surveyed by Bloomberg called for a 1.1 percent gain.

Photo Courtesy Ethan Miller/Getty Images

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