Nevada Real Estate >> Las Vegas Real Estate Specialist: Nevada: Las Vegas: Breamoor Heights

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

Las Vegas Area REO Homes For Sale

Inventory has fallen since last report (-270 units), Pendings have risen (+9) units  Closing data is DOWN at -541 units.   Low interest rates have spurred a flurry of buyer interest & activity this December and it continues.  

REO sales accounted for 72% of all Las Vegas Area Valley resale closings in August 2009.  REO listings account for only 22% 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 (9/15/2009): 2379
  • Under Contract (9/15/2009): 5245
  • Sold August 2009:  2874
  • Absorption Rate:  0.8 Months (THATS LESS THAN ONE MONTH = VERY LITTLE INVENTORY)

View Last Month's Report Here  

To find the most recent report, click here


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

 

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Comment balloon 0 commentsRenée Burrows • October 04 2009 01:12PM
Las Vegas NV Area August 2009 REO Inventory Update: Not Much Out…
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Inventory has fallen since last report (-270 units), Pendings have risen (+9) units Closing data is DOWN at -541 units. Low interest rates have spurred a flurry of buyer interest & activity this December and it continues. … more