Las Vegas Area REO Inventory has RISEN since last report (+330 units), Under Contracts have FALLEN (-27) units Closing data has RISEN (+161) units. Low interest rates have spurred a flurry of buyer interest & activity and it continues.
REO sales accounted for 40% of all Las Vegas Area Valley resale closings in June 2010. REO listings account for only 21% 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 (7/15/2010): 2476
- Under Contract (7/15/2010): 2760
- Sold June 2010: 1625
