Las Vegas, NV Area May 2010 Pendings Report: Can We Emerge from the Extreme Seller's Market to a Stable Market in 8 Months?

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Las Vegas, NV Area May 2010 Pendings Report: Can We Emerge from the Extreme Seller's Market to a Stable Market in 8 Months?

Inventory is increasing RAPIDLY. This may be due to the first time buyer's tax credit expiring. This is also good news as we could emerge from the extreme seller's market that we have been in for over a year to a stable market in about 8 months (with a consistent increases like the ones we have seen this month.)

Las Vegas Area Market Activity (Includes North Las Vegas, Henderson and Las Vegas)

Listings (6/15/2010): 10548
Under Contract (6/15/2010): 15748
Sold May 2010: 3513

Short Sales:

43% of Listings
29% of Sales

REO (Foreclosures, Bank Owned:)

20% of Listings
42% of Sales

In One Month: Listings are UP +994 units, Contracted ListingsDOWN -553, Sales are DOWN -85 units. Close ratios are going lower because much of the pending inventory is short sales which requires LONGER close times.

DOWN PAYMENT ASSISTANCE HAS NOT ENDED FOR FIRST TIME BUYERS, HOWEVER!!

Last Month's Pending Report

The Most Current REO (Foreclosure) Report

The Most Current Short Sale Report

The Most Current Las Vegas Area Pendings Report

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Posted by Renee Burrows - Las Vegas Real Estate - (702-580-1783) www.ShackDiva.com on 06/18/2010 01:20 PM

Comments (6)

Las Vegas Nv Real Estate in the Real Estate Market Channel

las vegas nv real estate, las vegas listings, las vegas homes for sale, las vegas short sales, las vegas reo

Originally posted at: Nevada Real Estate >> Las Vegas Real Estate Specialist: Las Vegas, NV Area May 2010 Pendings Report: Can We Emerge from the Extreme Seller's Market to a Stable Market in 8 Months?

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6 Comments on Las Vegas, NV Area May 2010 Pendings Report: Can We Emerge from the Extreme Seller's Market to a Stable Market in 8 Months?

JUN

2010

Great Blog Renee. Wouldn't it be lovely to be able to get our cleints properties without having to write 10 offers!!!!

Renee....

Wow, interesting statistics. Wouldn't it be great if we had a crystal ball and could predict the future?

Have another great day

Leander

ps....thanks for the re-blog

Renee, I think when the listing count goes down and the pending goes up, as it is, it shows that a big price correction happened and maybe people paniced. We may have to meet up by the way when me and my family come down in a few months to Vegas..

Renee - Another excellent market report for Las Vegas NV resale real estate.

Renee

I am always amazed at your blog posts; you are like a walking encyclopedia of info

JUN

2010

Renee,

Stable market would be music to many ears in the Vegas valley. Hopefully the rising inventory won't affect prices too much.

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Renee Burrows - Las Vegas Real Estate - (702-580-1783) www.ShackDiva.com

Las Vegas, NV

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