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Las Vegas Foreclosure Stats: One Week Past the Last Auction

By
Services for Real Estate Pros with Savvy Home Pix B.1000860.LLC

YES!  We hit the magic 500 Las Vegas Foreclosure pending number that I predicted several weeks ago.  There are exactly 500 REO listings under contract as of today.  That is +64 units from last week, up 123 units from two weeks ago, and up 214 units from October 2007 (a mere two months ago!)  We have almost doubled the amount of pendings in two months.  Listings are down 55 units from last week but up 297 units from October.  Actual closings remain stable.  I expect absorption to slightly drop at the beginning of the New Year (2008) as we watch the rising pendings close.

Here are current REO (bank owned, foreclosure) statistics:

  • Listings (12//16/2007):  2120
  • Under Contract (12/16/2007):  500
  • Sold (11/5-12/5/2007):  205
  • Month's Inventory:  10.3 

 

View last weeks stats here

Posted by

Thanks,  Renée Burrows 702-580-1783 Broker/Owner, REALTOR®
 

 

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Comments (6)

Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

Renee.  This is really good info. 

But, help me put it in context.  How many active listings are there?? 

Dec 16, 2007 06:29 AM
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer
Thanks for stopping by Lenn!  I just put my macros out today so that may help you!
Dec 16, 2007 07:18 AM
Neal Bloom
Brokered by eXp Realty LLC - Weston, FL
Realtor CRS-Weston FL Real Estate

Hey,

I have been using graphs a lot too...where do you get your from?

Dec 16, 2007 07:35 AM
Brad Whiteman
Coldwell Banker - New Haven, CT
Brad Whiteman
Nice info, keep me posted, no pun internded. I have a company doing alot of interaction with LV RE and would like to stay informed. I'll subscribe to your blog and see how it goes. Thanks.
Dec 16, 2007 08:35 AM
Don Stern
Realty Executives South Louisiana - Baton Rouge, LA
Greater Baton Rouge Real Estate

Hi Renee, being a numbers guy myself I've enjoyed reading through your blog and have just added it to my subscription list.  What is your source for foreclosure data?

Dec 16, 2007 08:41 AM
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

Neal:  I was writing a post when you wrote that comment!  I sent you an email.

Brad:  Thanks for stopping by and I hope the info helps.

Don:  Greater Las Vegas Association of Realtors.  Basically the MLS 

Dec 16, 2007 11:46 AM