Oh Where Oh Where Can Our Inventory Be?

Here's a Mini In Between Market Report For You!  I usually pull numbers mid month so for those that are curious here we go:

Las Vegas Is Currently Enjoying a Seller's Market!

• •·         Very Little Inventory
• •·         Multiple Agents w/ Buyers at a Single 15 Min Showing
• •·         Multiple Contracts Are Being Received on Each Property

Where is the Inventory?

• Moratoriums Ending 3/31/2009
• Potential REO Being Purchased as Cash Only Transactions at Trustee Sales
• Fannie/Freddie Renting Back To Tenants Foreclosed on
• Short Sales Being Approved (looking for stagnant closed numbers to double or triple in June/July)
• Loan Mods  Reportedly Happening
• Seeing a Slight Trickle of Fannie Inventory Hitting the Market, Nothing too Promising!

Comparison Since Jan/Feb 2009.  Listing & Pending departures from 2/15/2009 and 6/1/2009.  Sales Departures from Jan 2009 and May 2009.  MAY NUMBERS ARE NOT FINALIZED!

Entire Las Vegas Valley:

• •·         Listings DOWN -6374
• •·         Pendings UP +5017
• •·         Sales UP +1139

Short Sales:

• •·         Listings DOWN -924
• •·         Pendings UP +2580
• •·         Sales UP +70

REO:

• •·         Listings DOWN -4244
• •·         Pendings UP +1931
• •·         Sales UP +823

Will we see inventory hit the market?

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