The absorption rate for Las Vegas Valley Area Short Sales is finally seeing movement for June 2009. Absorption still remains high BUT is hovering around the 1 year mark. Solds have FINALLY gone from hovering the 200 unit mark and went over the 400 mark. I see improvement in this sector! Inventory has decreased (-233 units). Pending units have increased by +805 units. Solds have increased by +58 units. Absorption down by 2.1 months
There are many reasons for the lack of closings in this market and it is outlined in this post.
Short Sale Synopsis:
- Listings 8/15/2009: 4802
- Pending 8/15/2009: 7283
- Closed July 2009: 458
- Month's Inventory: 10.5
Short Sales Currently Account for:
- 41.5% of All Las Vegas Valley Listings
- 10.1% of All Las Vegas Valley Sales
Read here for the most current Las Vegas Area Short Sale Report.
Read here for last month's report on Las Vegas Area Short Sales.
If you need to sell your home through the short sale process, you can either fill out the form on this page or you can call 702-966-2494 and press option 0.
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**Las Vegas, NV Area Short Sale July 2009 Real Estate Market Inventory Update**
Great to see good news down there. Not such an issue here. You have done a dynamite job with this data.
Jim: Why thanks for the compliment. Huge issue here unfortunatly :(