The Las Vegas real estate market?

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ok, i live here in vegas. i have two homes, one as a primary residence and one as a rental. i am breaking even on the rental, which is fine because i am 35 and i plan on using it as retirement tool. i am looking to purchase another home this fall and i cant make any sense of the vegas real estate markert, nor the numbers.

i hope this link can come up.

http://www.lvrj.com/business/9731292.html

my questions are...

-why has the median home price gone up when everyone says the market is tanking.
-why is there over 24,000 homes & a 15 month supply of homes on the market here in vegas, yet prices keep modestly climbing?
-does this defy the supply/demand theory?

any feedback would be greatly appreciated.

vegas.