Home prices hit post-bust lows in Las Vegas

THE ASSOCIATED PRESS

February 22, 2011 - 12:21 pm

WASHINGTON — Home prices in a majority of major U.S. cities tracked by a private trade group, including Las Vegas, have fallen to their lowest levels since the housing bubble burst, and analysts expect further declines this year.

The Standard & Poor’s/Case-Shiller 20-city home price index fell 1 percent in December from November. Prices fell in all but one of the metropolitan markets tracked.

The only city to see a gain was Washington, where hiring by the federal government has helped boost the region’s job market.

Eleven of the markets hit their lowest point since the housing bust, in 2006 and 2007: Atlanta, Charlotte, N.C., Chicago, Detroit, Las Vegas, Miami, New York, Phoenix, Portland, Ore., Seattle and Tampa, Fla.

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