Las Vegas housing market continues upward trend

Steve Marcus

A “for sale” sign is displayed outside a foreclosed home near Hacienda Avenue and Jones Boulevard on Saturday, Feb. 5, 2011.

The Las Vegas housing market continued its upward trend last month.

There were 596 new home sales in November in the Las Vegas Valley, with a median closing price of $219,285, according to a report this week from Las Vegas-based Home Builders Research.

That compares to 365 new home sales in November 2011 at a median price of $204,221.

Local builders pulled 478 new homes permits last month, nearly double the 250 pulled in November 2011.

There were also 3,978 recorded resales last month. The median closing price, $133,000, was up almost 17 percent from $114,000 a year earlier, according to Home Builders Research.

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