Real Estate Blog - Las Vegas NV June 2008 REO Inventory Update: 2.8 Months Inventory, Seller's Market!

Home : Blogs : Renee Burrows - Las Vegas NV Valley - Homes For Sale - SRES - SRS - AHWD - ABR : Nevada Real Estate >> Las Vegas Real Estate Specialist

Las Vegas NV June 2008 REO Inventory Update: 2.8 Months Inventory, Seller's Market!

Las Vegas REO Activity

Bank Owned Las Vegas Listings (AKA Foreclosures, REOs) are enjoying a HOT SELLER'S MARKET! Inventory has risen dramatically (+503 units), Pendings have risen DRAMATICALLY (+199 units.) Closing data is up up UP at + 268 units.

Inventory holding steady. Absorption rate is 2.8 months.

Current Listed Bank Owned Statistics:

Listings (7/3/2007): 4633
Under Contract (7/3/2007): 3496
Sold 5/25-6/25/2008: 1680
Absorption Rate: 2.8 Months

View Last Month's Report Here

If you would like to buy a bank owned property call 702-966-2494, press option 1 and let us know what you are looking for. We will set you up on a search to have the new listings emailed to you as soon as they hit the market!

All statistical information I used to create this report was obtained from GLVAR MLS. Information Deemed Reliable but not Guaranteed.

Blog Disclaimer Important Notice

At Home with Diversity

Search Las Vegas Homes For Sale and Rental Homes Right Here!

Posted by Renee Burrows - Las Vegas NV Valley - Homes For Sale - SRES - SRS - AHWD - ABR on 07/07/2008 08:43 PM

Comments (6)

las vegas economic conditions, las vegas foreclosures

Originally posted at: Nevada Real Estate >> Las Vegas Real Estate Specialist: Las Vegas NV June 2008 REO Inventory Update: 2.8 Months Inventory, Seller's Market!

This post has been included in Nevada Information Clark County, NV Information Las Vegas, NV Information
Post is included in group: Posts to Localism
Post is included in group: Market Updates
Post is included in group: City & State: Listings and Market Reports

6 Comments on Las Vegas NV June 2008 REO Inventory Update: 2.8 Months Inventory, Seller's Market!

JUL

2008

Renee:an absortion rate of 2.8 months is a big improvement and not bad at all!!! Very encouraging.

JUL

2008

Good for you Renee! We still have way too much inventory and not nearly enough sales. I don't see too much change until next spring/summer. Ouch!

JUL

2008

Renee -- good info and nice graph that quickly communicates.

Wow, it is refreshing to see that your market is doing exceptionally well.

Renee,

Thanks for the post. It would appear that your the authority on Las Vegas REOs, way to go!

AUG

2008

Lloyd: They fly off as quick as they come on the market right now. I have a little fear this won't be ending any time soon!

Susie: Unless you see some major price changes. That may bring some buyers into the market!

Kevin: Thank you!

Petra: Just the REO market and some niche areas with high REO stats. Not the entire market (which is moving into a stable market, but still..)

William: I wish!

This blog does not allow anonymous comments