Home prices increase across Las Vegas Valley
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Las Vegas, NV (KTNV) -- Good news for homeowners looking to sell their homes in the Las Vegas Valley.
According to the Greater Las Vegas Association of Realtors, home prices have been rising for 19 consecutive months.
On Tuesday, prices were 32-percent higher than they were one year ago.
That means more homes are also for sale, which is good news for would-be buyers.
However, nearly 40-percent of all residential properties in Las Vegas with a mortgage were in negative equity as of the second quarter of this year, compared to the first quarter.
That's according to a report released Tuesday by CoreLogic.
Negative equity, often referred to as underwater or upside down, means borrowers owe more on their mortgages than their homes are worth.