According to the Greater Las Vegas Association of Realtors (GLVAR), Southern Nevada home prices are up more than 8% in the past year despite a seasonal slowdown and fewer homes changing hands.

GLVAR reported the median price of homes sold through its Multiple Listing Service during January was an even $200,000. That was down 2% from December, but still up 8.1% from $185,000 one year ago.

GLVAR President Keith Lynam said: “Compared to last year, home prices are still rising, just at a more gradual pace than they did in the past few years.

"Prices have bounced back steadily since bottoming out at $118,000 in January 2012, but are still well below their June 2006 peak of $315,000."