2014 home prices started strong in January and overall the average price climbed through September when prices started leveling off and actually dropped a little by December in most areas but overall the market went up from last year. We seem to be in a flat market right now waiting to see what happens as the big hedge funds start selling their inventory off in big chunks (already started). Investors as a whole will start to sell as lower rent prices start to cut into their return on investment. Folks that experienced a short sale or Bankruptcy during the downturn will start coming back in the market (boomerang buyers), that should keep prices at least level for a while longer and most likely start pushing the prices back up again. These folks are established and familiar with the local landscape and will be moving back into the buyers’ seat over the next 3 years. Of course the interest rates will have a huge impact on their buying power. Not all will want to own a home again after getting "burned", but enough to make a difference as long as the prices remain affordable at around $204,000 average home price. Las Vegas ranks #1 in the boomerang segment. Other factors that may drive the price up are Californians running from the latest tax increases and Chinese investors still looking for a place to put their money long term.