The average December home price in Las Vegas fell 1.5 percent from a year earlier, Altos Research reported.
The Mountain View, Calif.-based analytics firm’s 10-city composite home price index decreased by 1.6 percent in December to $448,996. Prices fell in all 27 markets tracked in the report.
The average Las Vegas home price was $148,264 in December, down from $150,520 in November and down 2.9 percent over the last three months, Altos Research reported.
The steepest decline was in San Francisco, down 4.8 percent. San Diego prices fell 3.7 percent; Minneapolis prices fell 3.2 percent.
In Las Vegas, inventory fell 2.1 percent in December to 21,998 units. The most dramatic decreases were in Boston (down 16.1 percent), San Francisco (down 14.5 percent) and Seattle (down 12.7 percent).
Housing inventory is off 5.9 percent nationwide, the report said.
The Altos 10-city composite is based on single-family homes in Boston; Chicago; New York; Los Angeles; San Diego; San Francisco; Miami; Las Vegas; Washington, D.C.; and Denver.
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Tags: California, Housing Market Conditions, Housing Market News, Las Vegas