Las Vegas home prices up for 8th straight month

LAS VEGAS -- Home prices in the Las Vegas area are up for the eighth month in a row, while the number of homes sold in September is down from a year ago.

The Greater Las Vegas Association of Realtors reports Tuesday that the median price of a single-family home sold in September was $140,000, up 1.4 percent from August and nearly 14 percent from last September.

Association president Kolleen Kelley says the price increases come as banks are less willing to foreclose and are opting more for short sales.

But she says prices tend to soften during the winter months.

The group reports about 3,300 homes, condominiums and townhomes were sold in September, down from about 3,700 in August and down from more than 4,100 last September.