Monday, February 2, 2009

Las Vegas Home Prices Dropping by Half?

Moody’s projects the total decline in the market will reach 52 percent by the end of the first quarter of 2010, says Mike Helmar, director of industry services and an economist who oversees Nevada forecasts.

“We don’t have much good news for you,” Helmar says. “We do have them continuing to go down.”

The firm listed the median price of Las Vegas homes reaching a peak of $320,000 in 2006’s first quarter and projects it dropping to $153,000 by 2010.

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