"Most experts are forecasting that the 2010 housing market willlook very much like it did in 2009. We tend to agree," Sheltonsays. "When you see our home prices staying fairly flat and salesstill going up substantially from one year ago, that's not bad.We'll take it."

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In general, the association's latest report showed single-familyhome prices staying about the same as previous months and homesales continuing to increase compared to the previous yearAccording to the association, in February the median price ofsingle-family homes sold in Southern Nevada was $135,694, up 0.6%from $134,925 in January, but down 12.8% from one year ago. Themedian price for condos and townhomes decreased 5.8%, from $69,000in January to $65,000 in February. That's down 13.3% from $75,000one year ago. The total number of local homes, condominiums andtownhomes sold in February was 3,075, down from 3,266 in January,but up from 2,730 in February 2009.

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The total number of local homes listed for sale increasedslightly from January to February, but that the number of homesthat are actually available with no pending or contingent offer onthem decreased slightly, Shelton pointed out. He thinks theSouthern Nevada housing market could actually benefit from anincreased supply of available homes to meet the steady demand.

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As in recent months, Shelton also saw positive developments inthe continued increase in short sales and decrease in salesinvolving foreclosed homes. In January, 21.1% of all existing homessold in Southern Nevada were short sales. That number increased to22% in February.

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Shelton says that the decreasing percentage of bank-owned homesales―down from 57.4% of all sales in January to 53% inFebruary―shows that lenders are becoming more willing towork with homeowners and work out short sales as an alternative toforeclosing."Sales are relative to inventory," Shelton said. "Ithink we need more selection to fuel more sales. If you look at thenumber of homes that are really available and our current salespace, we really only have about a three-month supply of homes onthe market. I think buyers want more selection."

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