Prices edged up slightly from the previous month according to the Greater Las Vegas Association
of Realtors.

Realtors sold 2,890 single family homes during the month, a 10.1 percent decrease from June and
a 8.7 decrease from the same month a year ago.

The median price rose …

Although concerns about the shadow inventory of foreclosures, underwater homes and a stubbornly high unemployment rate exist, Home Builders Research Friday reported 438 new home sales in June at a median price of $194,490, a 3 percent decrease from a year ago.

"The slight drop is nothing to worry about …

Home sellers are thriving in San Jose, San Francisco and Las Vegas, where price cuts are relatively uncommon and homes are sold often at or near their asking price according to a spokesman at Zillow.com.

On the other end of the spectrum, Chicago, Milwaukee and Cleveland are still buyer's …

Home sales fell in June as the inventory of single family homes for sale continued to decline.

The median home price increased 5.9 percent from a year ago to $131,785, the fifth straight month of
rising prices. It's the highest median price since December 2010.

Single family …

Maybe the banks are starting to figure it out. Instead of dealing with the legal challenges and expense of
foreclosures banks are now approving more short sales, or homes sold for less than the principal
mortgage balance.

According to David Brownell of Keller Williams Realty of Las Vegas, for the …

Lenders initiated foreclosure proceedings against more U.S. homeowners in May, setting the stage
for increases in home repossessions and short sales - scenarios that could further weigh down
home sales in coming months.

Default or home auction notices were filed for the first time against 109,051 homes last month …

In Las Vegas and Henderson, short sales are catching up with foreclosures. Nearly 30 percent
of existing home sales in April were short sales compared with 25% in March reported the Vegas Association of Realtors.

Meanwhile, bank-owned home sales declined 36.9% in April, down from 40.7% in March.

The …