Category: Las Vegas Condos For Sale

With investors buying houses and hacking down the inventory, the price of distressed homes is rising faster in Nevada than in any other state, a new report shows.Nevada homes that were bank-owned or headed toward foreclosure sold for an average $144,182 in the three months ending March 31, up 22.71 percent from a year earlier, according to Irvine, Calif.-based RealtyTrac.Kansas was a close second to Nevada, with the price rising 22.57 percent this past year to $143,626. Nationally, such homes sold for an average $167,095 last quarter, up 3 percent from a year earlier.Nevada’s price increase comes amid shrinking availability and sales volume. A total of 4,512 distressed homes — meaning they had been seized by lenders, scheduled for auction or slapped with a notice of default — were sold statewide last quarter, down 63 percent from a year earlier.

via Distressed-home prices in Nevada soar as inventory shrinks – VEGAS INC.