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COPYRIGHT 2006 Las Vegas Review-Journal
Byline: Hubble Smith
Jun. 29--The housing market in Las Vegas is entering a period of extraordinary transition with the first real influx of high-rise condominium sales in May, a local researcher said Wednesday.
Larry Murphy, president of SalesTraq, said May's housing statistics offer "intriguing clues" as to why the much ballyhooed housing bubble has not burst in Las Vegas.
While the inventory of homes for sale reached an all-time high of 20,515 in May, about double from a year ago, it's a supply of six to seven months based on sales through the Multiple Listing Service. That's a relatively healthy market, Murphy said.
Prices have yet to...
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