Las Vegas Area REO Inventory has RISEN since last report (+367 units), Under Contracts have RISEN (+38) units Closing data has FALLEN (-162) units. Low interest rates have spurred a flurry of buyer interest & activity this December and it continues.
REO sales accounted for 42% of all Las Vegas Area Valley resale closings in May 2010. REO listings account for only 20% 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 (6/15/2010):2146
- Under Contract (6/15/2010): 2787
- Sold May 2010: 1464
