In this new economy, many indices we have relied on in the past just aren't applicable.  In housing, lumping sales data of distressed properties with that of market properties is completely misleading.  This last year the median resale home price has hovered in the $160,000 range.  The RSAR took a look at the sales of distressed properties and market properties separately for the period 7/1/10 thru 6/30/11.  They found that the median price of REO's was $140,000, the median price of Short Sales was $158,000 but the median price of Market properties was $214,

5/25/11

The Nevada State Legislature has the opportunity to insure that there will be builders to build new homes here in the future and that those homes will be reasonably  priced. But will they?

In a normal market median home price if reflective of the overall value of homes. In this current market, which is not broad based, it may not reflect changes in overall value. If more smaller homes are being sold, the median price will come down while other home's selling prices are unchanged. Therefore any discussion of median price should also include median square footage.