Median Vegas-area home prices dip below $200,000 in October

Economic Indicators Associated Press

Southern Nevada real estate agents say the area's median home price dipped below $200,000 in October.

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The Greater Las Vegas Association of Realtors reported Thursday that median home prices were down 1.3 percent from September, but up 8.1 percent from the same time a year ago.

Association chief Heidi Kasama says it's no surprise that home prices are declining and sales are slowing as the holidays draw nearer.

She says sales and prices might go down even further through the winter months.

Home prices remain far below their June 2006 peak of $315,000, but above their January 2012 trough of $118,000.

The total number of homes sold in October was nearly 2,900, down about 100 from September.