Nevada Real Estate >> Las Vegas Real Estate Specialist: Nevada: Henderson: Allegro

Las Vegas NV Area October 2008 REO Inventory Update: Absorption Remaining Steady

Las Vegas NV Area Foreclosed Home Listings

Even though bank owned listings (aka Foreclosures, REO) are seeing an upward tick in absorption, it is still a seller's market! Inventory has risen dramatically (+2047 units), Pendings have dropped -202 units  Closing data is up up UP at + 225 units.  Even though sales are increasing month to month, inventory is rising at an uncontrolled pace which is causing the absorption rate to rise also. No Inventory change reports available for this month due to last month's report being pulled a month later than usual.

Multiple offers are streaming in as banks continue to lower to fire and auction sale prices.

Current Listed Bank Owned Statistics:

  • Listings (11/14/2007): 7273
  • Under Contract (11/14/2007): 3600
  • Sold 9/29-10/29/2008:  2369
  • Absorption Rate:  3.1 Months

View Last Month's Report Here  

To find the most recent report, click here

If you are thinking about buying an REO (Foreclosure or Bank Owned) property in the Las Vegas Area Please Call:  702-966-2494:

Burrows Group is proudly affiliated with and brokered by Nevada Realty Solutions, LLC.  NVRS is one of the top listing and sale brokers for both REO and Short Sales.  While we are not given preferential treatment for any in-house listings, we do have a distinct advantage when we work with REO and Short Sale buyers. 

The opinions expressed in this article are those of Renee Burrows and not necessarily those of NVRS.

All statistical information I used to create this report was obtained from GLVAR MLS.  Information Deemed Reliable but not Guaranteed.

Las Vegas NV Real Estate


Thanks,  Renée Burrows 702-580-1783 Broker/Owner, REALTOR®
 

 

copyright 2006-2013 Renee Burrows, REALTOR®, Savvy Home Realty Solutions  702-966-2494

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Comment balloon 5 commentsRenée Burrows • November 27 2008 12:24PM
Las Vegas NV Area October 2008 REO Inventory Update: Absorption…
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Even though bank owned listings (aka Foreclosures, REO) are seeing an upward tick in absorption, it is still a seller's market! Inventory has risen dramatically (+2047 units), Pendings have dropped -202 units Closing data is up up UP at +… more