Las Vegas, NV Foreclosure Listings: Five Weeks Post Auction, Pendings are Still Rising!!

Las Vegas Foreclosure Listings

Pendings are still rising 5 weeks post Las Vegas Foreclosure auctions!  Five weeks post we are looking at rising closings (+10 Units/one week) and pendings rose at a nice rate when I expected them to start leveling off (+66 Units/one week)!  Yes we are seeing listings rise (+51 units/one week).   I am almost wondering if this market may swing into a seller's market for one or two months early in 2008.  It is definitely the closest thing to a seller's market when you break down all the sub markets here.  

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

  • Listings (1/13/2008):  2261
  • Under Contract (1/13/2008): 649
  • Sold (12/5/2007-1/5/2008):  292
  • Month's Inventory: 7.7

View last weeks stats here.

View Monthly stats here. 

I was only going to do these stats weekly for 6 weeks but it looks like I will continue to do them as long as the closings and pendings are rising steadily!  This is THE market to watch! 

 
 
This post has been included in Nevada Information Clark County, NV Information
Post is included in group: Resort Communities
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Post is included in group: City & State: Listings and Reports

8 Comments on Las Vegas, NV Foreclosure Listings: Five Weeks Post Auction, Pendings are Still Rising!!

Wow, Renee, this is certainly good news for your market! It definitely looks like it could swing into a seller's market for a while.

01/14/2008 04:57 PM by Linda Scanlan (The Real Estate Referral Company)

Renee, All I see is opportunity. I hope you're seeing it too.

Bill Roberts

01/14/2008 06:34 PM by Bill Roberts - "Baby Boomer" Retirement Planning (Brooks and Dunphy Real Estate)

Renee, sounds like good news all over the country.  Good I'm running out of reserves.

01/14/2008 07:58 PM by Brian Sharkey South Florida Realtor (All Florida GMAC Real Estate)

I have been saying for a while that things will change this year.  I believe by summer 2008 it's the bottom for most!  I have picked up 3 NEW buyers in the last week.

01/14/2008 11:14 PM by Tampa Real Estate | Florida Relocation | Land | LakeFront Home | Katrina Madewell (Charles Rutenberg Rlty- More than 3,500 agents(813) 235-9889)

The activity I have seen in our own market is telling me that things may be looking better for us this year, and not next, as most of the "experts" out there seem to think.  Nevada, lead the way!

01/15/2008 03:57 AM by Palmetto Bay | Redland Real Estate | Maggie Dokic (EWM Realtors)

I am seeing an upswing here, too.  My market has been somewhat similar to yours and I'm glad to hear your news!

01/15/2008 06:00 AM by Chris Elizabeth Griffith ~ Bonita Springs Fl Real Estate (Keller Williams Elite Realty, Bonita Springs, FL)

Lots of colors...market reports gets lots of coverage for me on google. Ive been extremely busy so I guess it is picking up.

01/15/2008 06:46 AM by Neal Bloom-Realtor ® Assoc.-CRS-Weston FL (RE/MAX Premier Associates)

Hmm, you know that is not nearly as bad as I thought it might be - Lance

01/18/2008 12:08 AM by Lance Winslow (The Car Wash Guy)

This blog does not allow anonymous comments
 
Real Estate Agent: Renee Burrows - Las Vegas NV Real Estate (Nevada Realty Solutions)
Renee Burrows - Las Vegas NV Real Estate
Las Vegas, NV
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Nevada Realty Solutions

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Page copy protected against web site content infringement by CopyscapeSpecializing in those forgotten "at" Rhodes Ranch Communities in Southwest Las Vegas that offer peek-a-boo views of the mountains and city lights! I love to watch trends and statistics in this fascinating market! I do have a newsletter that you can subscribe to - so if you want to keep in tune with the Las Vegas Real Estate Market Conditions on a monthly basis, sign up with absolutely no obligation!
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