Las Vegas In Business reported August14,2010 - Las Vegas home prices to go up slightly in 2011

Mark Boud, a California-based economist and founder of Real Estate Economics, a real estate consulting firm, said he expects home prices to increase slightly in 2011 and by 2015 values could appreciate 7.5 percent a year.

Low home prices have driven sales in Las Vegas despite the weak economy and as it improves in 2011, that should spur more sales and some appreciation, Boud said. He said Las Vegas is 58 percent undervalued.

"If you look long term, Las Vegas is a screaming deal," Boud said. "Those who are buying now are paying 12 cents on the dollar (of their income) versus 35 percent in 2006."

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