NV home prices expected to rise this year

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Updated: 1/15/2013 12:49 pm
RENO, Nev. (KRNV & MyNews4.com) -- Today, we are getting some positive news regarding the housing market in northern Nevada.

According to the Builders Association, home prices are expected to rise this year. Last year, home prices rose by seven and a half percent, the largest jump in six years.

This year, market researcher CoreLogic predicts prices will rise by six percent.

The Builders Association spoke about the housing market forecast this morning, saying it may still be slow, but the housing market here is on the rebound.

The Builders Association agrees with CoreLogic, saying the boost in home prices will be propelled by the same forces as last year, including fewer foreclosed homes for sale and a decreasing inventory of unsold homes.

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