From the report:

Falling inventories and an influx of cash buyers have given Las Vegas home prices a boost. Housing market fundamentals are also improving, albeit at a slower pace than prices.

Overall a mixed bag: sales are up, prices are up, homeownership rate is up (though it is far below the national average), but “Las Vegas still has a long way to go before getting fully back on track.”

View the entire Wells Fargo Regional Housing Report for the Las Vegas area.