Tuesday, Feb. 10, 2009 | 8:33 a.m.
The pace of home sales slowed in January as the price continued to tumble, according to statistics released this morning by the Greater Las Vegas Association of Realtors.
Median home prices fell 8.6 percent in January to $160,000 and show no sign of abating. The price is 49 percent below the market high of $315,000 recorded by the GLVAR in June 2006. Prices have fallen 36 percent since January 2008.
There were 2,224 sales in January, an 11 percent decline from December. Sales, however, are still ahead of January 2008 by 126 percent, according to the GLVAR, which tracks all home sales using the Multiple Listing Service.