A pair of reports on markets in the Nevada area. "The Lake Tahoe home market continued its slowdown through the first six months of 2006, according to a report released by a Incline Village-based real estate firm. Through the first half of this year, the amount of existing single-family homes sold fell 41 percent from the first half of 2005, to 404 units, for the combined East Shore, South Shore, Tahoe City and Incline Village areas."

"Homes of more than $1 million have fallen 16 percent, to 106, through the first half of this year compared with the same period of 2005. Sales of less than $1 million have dropped to 298 so far in '06, down 46 percent from '05, according to the report."

"Lake Tahoe condominium units sold, on 140, is down 37 percent through the first six months of last year. 'I don't think we need to be concerned until we see the median and average prices starting to drop drastically,' Sue Lowe, VP for Chase Intl. said. 'We are going back to our typical market. We have more inventory and a longer period of time to sell your home.'"

The USA Today. "Real estate looks like one of the biggest gambles in Las Vegas. About 60% of home buyers from January to March took out high-risk loans that give them the option of paying only the interest or even less each month, according to LoanPerformance."

"The number of condos listed for sale is up 67% from last year. And a dozen projects are under construction or have recently been completed. 'The condo market, there are your investors; that's the whole story of the market,' says Dennis Smith of Home Builders Research, a data firm."

"At least five condo projects have been canceled in recent months. Sales of single-family homes were off 17% in May. And with a 7½-month supply, it's definitely a buyer's market."