Inventory has fallen since last report (-109 units), Pendings have dropped -239 units Closing data is DOWN at -115 units. Low interest rates have spurred a flurry of buyer interest & activity this December and it continues.
REO sales accounted for 75.1% of all Las Vegas Area Valley resale closings in June 2009. REO listings account for only 22.9% 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 (8/15/2009): 2649
- Under Contract (8/15/2009): 5236
- Sold July 2009: 3415
- Absorption Rate: 0.8 Months (THATS LESS THAN ONE MONTH = VERY LITTLE INVENTORY)
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