Inventory has fallen since last report (-188 units), Pendings have dropped -647 units Closing data is up dramatically at +383 units. Low interest rates have spurred a flurry of buyer interest & activity this December and it continues.
REO sales accounted for 76% of all Las Vegas Area Valley resale closings in June 2009. REO listings account for only 23% 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 (7/16/2009): 2758
- Under Contract (7/16/2009): 5471
- Sold June 2009: 3530
- Absorption Rate: 0.8 Months (THATS LESS THAN ONE MONTH = VERY LITTLE INVENTORY)
To find the most recent report, click here
If you are thinking about buying an REO (Foreclosure or Bank Owned) property in the Las Vegas Area Please Call: 702-966-2494:
- Option 1 if you are a Buyer wanting to purchase REO Property.
- Option 3 if you are interested in Financing your REO Property (including down payment assistance for first time buyers)
- Option 4: Para español presione el cuatro.
All statistical information I used to create this report was obtained from GLVAR MLS. Information Deemed Reliable but not Guaranteed
DISCLAIMER: The information, photographs & content contained within Renee Burrows' blog is the property of Renee Burrows. You must obtain written permission from Renee Burrows or use the Active Rain "reblog" function and reblog the post in its entirety without revision if you would like to use any of this content. Opinions expressed are those of Renee Burrows may not necessarily be opinions of past and present brokers. Many articles may be time and date sensitive so please always look at the date posted. For most current brokerage and contact information, refer to my Active Rain profile.
Comments(6)