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Las Vegas NV Area March 2010 REO Inventory Update

Las Vegas REO Homes For Sale

Las Vegas Area REO - Inventory Absorption Report

 

Las Vegas Area REO Inventory has FALLEN since last report (-119 units), Under Contracts have FALLEN (-379) units  Closing data has RISEN (+327) units.  Low interest rates have spurred a flurry of buyer interest & activity this December and it continues.  

REO sales accounted for 53% of all Las Vegas Area Valley resale closings in March 2010.  REO listings account for only 15% 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 (4/15/2010): 1348
  • Under Contract (4/15/2010): 2813
  • Sold March 2010:2010
  • Absorption Rate:  0.7 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 7 commentsRenée Burrows • April 16 2010 04:29PM
Las Vegas NV Area March 2010 REO Inventory Update
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Las Vegas Area REO Inventory has FALLEN since last report (-119 units), Under Contracts have FALLEN (-379) units Closing data has RISEN (+327) units. Low interest rates have spurred a flurry of buyer interest &… more