**The Freefall Inventory Plunge Continues in Las Vegas!!!**
We are still squeezed for inventory. New REO listings are few and far between thanks to AB 284 with currently no end to that drama in sight. Multiple offers on well priced homes are widespread. Everyone from first time buyers to investors are taking advantage of "opportunity".
Read more about Las Vegas Real Estate Inventory Analysis here and consumers may comment on this post.
Las Vegas Area Real Estate Market Watch was created for informational purposes only.
This is for all the buyers wondering "where is the inventory"? The inventory is here, this graph shows that buyer interest is extremely high and gobbling up all that new inventory coming online!
This is also for people saying "shadow inventory exists"! Well I believe it exists but it also exists in Las Vegas short sales which has tripled to quadrupled it's formerly stagnant close ratio since late spring.
These are Listing/Under Contract & Pending/Sold Trends from December 2007-May 2012.
Contracted closings are stalled because of the large amount of Las Vegas short sales that are contracted.