The Greater Las Vegas Association of Realtors (GLVAR) reports 34.7 percent of all existing local homes sold in June were purchased with cash, a drop from 40.2 percent in May, and a considerable decline from the Feb. 2013 peak of 59.5 percent. It has not been that low since July of 2009, suggesting investors are accounting for a lesser percentage of local buyers, and more traditional purchasers are in the market. However, fewer existing homes were sold in June compared to May, and local home sales are down overall from last year by 13 percent, according to worldpropertychannel.com. The median sales price of existing single-family homes during June was $199,900, an increase of 14.2 percent from June 2013, the highest median home price in southern Nevada since Sept. of 2008. At one time MHProNews understands Las Vegas had one of the highest foreclosure rates of any metro area in the country. ##
