According to the Greater Las Vegas Association of Realtors (GLVAR), local home prices bounced back in May 2014 after dipping slightly in March and April.

GLVAR reported the median price of existing single-family homes sold in Southern Nevada during May was $195,000, up 1.6% from $192,000 in April and back to where they were in March. However, the annual price growth is much higher, with May’s median home price up 14.7% from $170,000 in May of 2013.

Putting these prices into perspective, GLVAR President Heidi Kasama said existing local home prices are still well below their June 2006 peak of $315,000. Prices bottomed out at a median of $118,000 in January 2012 before rising for a record 19 straight months until September 2013, then increasing more gradually since then.