Las Vegas housing market taps the brakes

Las Vegas' housing market is still hot but seems to be tapping the brakes. Price growth has cooled and sales have slowed, with some brokers saying it appears homes are on the market longer. The median sales price of previously owned single-family homes in July was $290,000, up 11.5% from a year earlier, compared to an 18% jump in May. Meanwhile, the median asking price of new listings in July was $315,000, up 14.6% from a year earlier, the Greater Las Vegas Association of Realtors reported.