Inventory has fallen dramatically since last report (-815 units), Pendings have dropped -412 units Closing data is up at +33 units. Low interest rates have spurred a flurry of buyer interest & activity this December and it continues.
REO sales accounted for 80% of all Las Vegas Area Valley resale closings in May 2009. REO listings account for only 22.7% of total resale listings.
Current Listed Bank Owned Statistics:
- Listings (6/15/2009): 2946
- Under Contract (6/15/2009): 6118
- Sold May 2009: 3147
- Absorption Rate: 0.9 Months (THATS LESS THAN ONE MONTH = VERY LITTLE INVENTORY)
If you are thinking about buying an REO (Foreclosure or Bank Owned) property in the Las Vegas Area Please Call: 702-966-2494:
- Option 1 if you are a Buyer wanting to purchase REO Property.
- Option 3 if you are interested in Financing your REO Property (including down payment assistance for first time buyers)
- Option 4: Para español presione el cuatro.
All statistical information I used to create this report was obtained from GLVAR MLS. Information Deemed Reliable but not Guaranteed