Inventory has fallen since last report (-270 units), Pendings have risen (+9) units Closing data is DOWN at -541 units. Low interest rates have spurred a flurry of buyer interest & activity this December and it continues.
REO sales accounted for 72% of all Las Vegas Area Valley resale closings in August 2009. REO listings account for only 22% 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 (9/15/2009): 2379
- Under Contract (9/15/2009): 5245
- Sold August 2009: 2874
- Absorption Rate: 0.8 Months (THATS LESS THAN ONE MONTH = VERY LITTLE INVENTORY)
