Las Vegas home prices also on the rise

Joyce Lupiani

Las Vegas home prices also on the rise

CREATED Sep. 4, 2012

Las Vegas, NV (KTNV) -- Las Vegas home prices rose by 5.2 percent in July of this year compared to this same time last year, according to new data released today by CoreLogic.

This is actually better than the national average of 3.8 percent and an increase of 1.9 percent on a month-over-month basis from June 2012.

Nevada still tops the list of five states with the largest peak-to-current declines including distressed transactions at -56 percent. Florida is next followed by Arizona, California and Michigan.

The five states with the highest appreciation were Arizona, (+16.6 percent), Idaho, Utah, South Dakota and Colorado.

The nationwide increase was the biggest in six years. However, experts say that the housing market recovery is just beginning.