Thank you Fortune magazine for letting us know that home prices in Las Vegas will tumble over the next few quarters. Anyone want to buy my home now?

The publication says we’ll see a 6.6 percent fall this year and an additional 8.1 percent decrease in home value in 2008.

For those of you who follow the annual listing, Las Vegas’ median home price was supposed to fall 8 to 9 percent last year. According to SalesTraq (as of Nov. 2006), last year’s median home price increased 12 percent. Compared to the first 11 months of 2005, the increase was more moderate at 5.5 percent.

I’m no economist and wouldn’t pretend to be…how boring. There are many economic indicators that seem to point to a steady home value in Las Vegas. Consider move-ins, jobs, an increase in visiting tourists and the healthy performance of our gaming industry, up 17 percent in 2006 over 2005 numbers.

While the magazine’s title conjures up images of fortune tellers, perhaps its crystal ball doesn’t see this desert valley so clearly.