That’s according to the Lied Institute for Real Estate Studies at UNLV. The Institute released its review of Nevada’s Housing Market for 2013 earlier this week.

The report noted that the real estate market improved virtually across the board in 2013. Home prices were up but affordability remained high. Foreclosures were down as were the share of distressed sales among single-family home sales. Nearly 70% of Nevada homeowners have positive equity, a level double that of just two years ago.

Compared to last year, Nevada’s residential housing market is preforming remarkably better and homeowners are financially stronger. The mortgage delinquency rate declined substantially along with foreclosure inventory throughout 2013…traditional home sales dominated the re‐sale market and soared above short sales and real estate owned (REO) sales this year past year…the average price for single family homes increased – driving more homes into positive equity…Despite price increases, half of the local working class can still afford most homes being sold. Competition, nevertheless, persists and the level of available homes for sale reached a new low in December 2013.

Distress sales constituted just over 20% of overall single-family sales, the lowest level since 2008. After being the foreclosure capital of the world for years, Nevada was just eighth in foreclosure inventory in the 4th quarter of 2013 and not among the top twenty states in foreclosure starts during the quarter.

Sales and construction numbers were down in December compared to the previous month and the prior December. But the yearly figures showed significant increases over 2012.