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CAUTION: The graph is correct as it shows the List Price, but if you look at the Sales Price in last couple of months it has gone down drastically: exactly opposite to the trend in List Price.
What this graph tells is that homeowners have started Listing their homes at very high List Price, but the actual sales price have dropped drastically.
Proof: Check out this link and go to the middle of the page to see the REAL graph
http://www.redfin.com/NV/Las-Vegas/11026-Vasari-Ct-89144/home/29858407
PRICE CHART "STRONG BUY" SIGNAL
http://www.trulia.com/blog/david_cooper/2012/02/las_vegas_market_update_feb_21_list_price_up_listing_down
#housing