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The Las Vegas housing market continues to offer incredible value for homes at unbeatable prices in wake of the city's housing market bust, the Pittsburgh Post-Gazette reports.
During the city's peak between 2004 and 2006, homes for sale in Las Vegas ranged from about $400,000 to $800,000, but now, as an increasing number of homes enter foreclosure or sit vacant, home prices have plummeted, says the news source.
For example, a two-story, four-bedroom home in one of Las Vegas' trendier neighborhoods listed at $726,990 during the peak now sits on the market for $429,900, reports the Gazette. Many current homeowners who bought during the market's peak sit severely underwater as negative equity continues to sweep through the city.
However, for those who were fortunate enough not to invest in a home prior to 2006, this misfortune could yield a unique investment opportunity – and buyers are taking notice. A recent report from DataQuick shows that Las Vegas' sales rate has increased for the four consecutive month, and overall, 4,595 new and resale homes were sold last month.
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