Nevada Real Estate >> Las Vegas Real Estate Specialist: Nevada: Henderson: Ash Creek

Las Vegas NV Area May 2009 REO Inventory Update: Not Much Out There (less than one month inventory!)

Las Vegas Area REO Listings, Pendings & Sold Market Report

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.

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

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)

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:

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


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 • June 17 2009 08:12AM
Las Vegas NV Area May 2009 REO Inventory Update: Not Much Out There..
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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… more