20 cities are tracked in the S&P/Case-Shiller 20-city Home Price Index. Since April of last year the average home price has droped 15.3%. Many cities dropping every month for the last 21 months.
Las Vegas has been the hardest hit dropping 26.8%. Home owners have felt the pinch leading to huge numbers of foreclosures. Investors have been buying up great deals across the valley as prices drop to levels from years past.
Las Vegas real estate agents have seen historic trends up and historic trends in foreclosure opportunities. As major projects schedule their completion over the next couple of years, agent watch to se how many tens of thousands of jobs will be created drawing in a large number of residents and driving prices upwards once again.