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COPYRIGHT 2007 Las Vegas Review-Journal
Byline: Hubble Smith
Jun. 23--Las Vegas housing analyst Dennis Smith is looking for any hint of good news regarding the slumping market. He found it in month-to-month sales comparisons.
While new home sales are down 43.8 percent for the year and median prices have slipped 4.4 percent, May showed some upward momentum from April.
The number of new single-family home sales rose 11.7 percent to 1,751 in May, as the median price dropped 3 percent from the previous month to $308,874.
"Part of the good news is prices went down," said Smith, president of Home Builders Research....
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