Nevada Real Estate >> Las Vegas Real Estate Specialist: Nevada: Las Vegas: Echo Glenn

Las Vegas, NV Area May 2010 Pendings Report: Can We Emerge from the Extreme Seller's Market to a Stable Market in 8 Months?

Las Vegas Homes for Sale

Las Vegas Area Homes for Sale

Las Vegas Area Real Estate Market Report

Inventory is increasing RAPIDLY.  This may be due to the first time buyer's tax credit expiring.  This is also good news as we could emerge from the extreme seller's market that we have been in for over a year to a stable market in about 8 months (with a consistent increases like the ones we have seen this month.)

Las Vegas Area Market Activity (Includes North Las Vegas, Henderson and Las Vegas)

  • Listings (6/15/2010):  10548
  • Under Contract (6/15/2010):  15748
  • Sold May 2010:  3513

Short Sales:

  • 43% of Listings
  • 29% of Sales

REO (Foreclosures, Bank Owned:)

  • 20% of Listings
  • 42% of Sales

In One Month:  Listings are UP +994 units, Contracted ListingsDOWN -553, Sales are DOWN -85 units.  Close ratios are going lower because much of the pending inventory is short sales which requires LONGER close times. 

 DOWN PAYMENT ASSISTANCE HAS NOT ENDED FOR FIRST TIME BUYERS, HOWEVER!!

Last Month's Pending Report

The Most Current REO (Foreclosure) Report

The Most Current Short Sale Report

The Most Current Las Vegas Area Pendings Report


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 6 commentsRenée Burrows • June 18 2010 01:20PM
Las Vegas, NV Area May 2010 Pendings Report: Can We Emerge from the…
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Inventory is increasing RAPIDLY. This may be due to the first time buyer's tax credit expiring. This is also good news as we could emerge from the extreme seller's market that we have been in for over a year to a stable market… more