Most of the homes for sale in the Las Vegas Valley are unaffordable for the average family, according to a new report from Redfin.

Only approximately 20 percent of the houses listed for sale in the valley are affordable for a household earning the median income, which currently sits at $81,081, according to Redfin, which used U.S. Census Bureau data in its report. The typical Las Vegas household would have to spend 40 percent of their income to buy the median-priced home.

Active listings in the valley jumped 31 percent in July compared to the same month last year, the largest increase of any metro region in the country, according to Redfin. Pending home sales have subsequently dropped 8.6 percent over this same time frame, while closed sales fell 8.5 percent, which Redfin said signals th

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