**LAS VEGAS AREA RESIDENTIAL RESALE HOME INVENTORY DROPS AGAIN!!!**

We are still squeezed for inventory.  New REO listings are few and far between thanks to AB 284 with currently no end to that drama in sight.  Multiple offers on well priced homes are widespread. Everyone from first time buyers to investors are taking advantage of "opportunity".

Read more about Las Vegas Real Estate Inventory Analysis here and consumers may comment on this post.

Las Vegas Area Real Estate Market Watch was created for informational purposes only.

This is for all the buyers wondering "where is the inventory"? The inventory is here, this graph shows that buyer interest is extremely high and gobbling up all that new inventory coming online!

This is also for people saying "shadow inventory exists"! Well I believe it exists but it also exists in Las Vegas short sales which has tripled to quadrupled it's formerly stagnant close ratio since late spring.

These are Listing/Under Contract & Pending/Sold Trends from December 2007-March 2013.

Contracted closings are stalled because of the large amount of Las Vegas short sales that are contracted.

Welcome Home to GATED N Las Vegas Communities:  Allen Manor

• Gated Community
• 212 Single Family Homes
• All Single Story
• Ranging from 1970-2362 Square Feet
• Built From 2005-2008 by DR Horton 
• Located Near the Cross Streets of Allen & Centennial  

Good proximity to the new Northern 215 Beltway which makes getting to shopping, restaurants, entertainment and professional offices a snap!  Also close to Aliante Station Casino!

Even though bank owned listings (aka Foreclosures, REO) are seeing an upward tick in absorption, it is still a seller's market! Inventory has risen dramatically (+513 units), Pendings have risen +82 units  Closing data is up up UP at -424 units.  Inventory is rising at an uncontrolled pace which is causing the absorption rate to rise also.  What I know on the back end with all the contracts being written, this may change VERY soon here.  Low interest rates have spurred a flurry of buyer activity this December.  Since the numbers were pulled, we are almost another 200 pendings higher!  Foreclosures are showing NO signs of stopping!

REO sales accounted for 76.6% of all resales in November 2008.  REO listings account for only 35.9% 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 (12/11/2007): 7786
• Under Contract (12/11/2007): 3682
• Sold November:  1945
• Absorption Rate:  4 Months

View Last Month's Report Here  

To find the most recent report, click here

If you are thinking about buying an REO (Foreclosure or Bank Owned) property in the Las Vegas Area Please Call:  702-966-2494:

• Option 1 if you are a Buyer wanting to purchase REO Property.
• Option 3 if you are interested in Financing your REO Property (including down payment assistance for first time buyers)
• Option 4:  Para español presione el cuatro.

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

Sorry for the way silly headliner.  This market is crazy with buyer activity and instead of appreciation we are still seeing slight depreciation.  WHEN WILL THIS STOP?!?!?!