LAS VEGAS -- Just five years ago, Las Vegas was booming and in the midst of a housing bubble. But that bubble burst, leaving home prices plummeting. Now for the first time in years, housing prices are climbing again.
A new report shows Las Vegas is one of two cities that saw an increase in home prices in the U.S. in recent months.
"Las Vegas is a very dynamic market. When it was going up, it was news. When it's going down, it's news," said Dr. Nasser Daneshvary with UNLV's Lied Institute for Real Estate Studies.
Dr. Daneshvary just wrapped up a year long study on the local real estate market.
"I think the prices have bottomed out. It is the sign of things getting better, or at least being stable without going down," he said.
His focus was foreclosures, but says it's a positive sign that Las Vegas is one of two metro areas to post gains in monthly home sale prices.