Nevada Real Estate >> Las Vegas Real Estate Specialist: Nevada: Las Vegas: Canyon Crest

Las Vegas NV Area October 2009 REO Inventory Update: Still Very Little Inventory

Las Vegas Area Foreclosures For Sale - Pending - Sold

Las Vegas Area REO Inventory has risen since last report (+99 units), Under Contracts have fallen (-589) units  Closing data is UNCHANGED.  Low interest rates have spurred a flurry of buyer interest & activity this December and it continues.  

REO sales accounted for 66% of all Las Vegas Area Valley resale closings in October 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 (11/15/2009): 2243
  • Under Contract (11/15/2009): 4454
  • Sold October 2009:  2869
  • 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 14 commentsRenée Donohue • November 18 2009 04:58PM
Las Vegas NV Area October 2009 REO Inventory Update: Still Very…
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Las Vegas Area REO Inventory has risen since last report (+99 units), Under Contracts have fallen (-589) units Closing data is UNCHANGED. Low interest rates have spurred a flurry of buyer interest & activity this December and it… more