Las Vegas, NV Area Short Sale July 2009 Inventory Update

Reblogger Kimberly Dearth
Real Estate Agent with RE/MAX CENTRAL

 

Original content by Renée Donohue~Home Photography B.1000860.LLC

Las Vegas Area Short Sales

The absorption rate for Las Vegas Valley Area Short Sales is finally seeing movement for June 2009.  Absorption still remains high BUT is hovering around the 1 year mark.  Solds have FINALLY gone from hovering the 200 unit mark and went over the 400 mark.  I see improvement in this sector! Inventory has decreased  (-233 units).  Pending units have increased by +805 units.    Solds have increased by +58 units.  Absorption down by 2.1 months

There are many reasons for the lack of closings in this market and it is outlined in this post

Short Sale Synopsis:

  • Listings 8/15/2009: 4802
  • Pending 8/15/2009: 7283
  • Closed July 2009: 458
  • Month's Inventory: 10.5

Short Sales Currently Account for:

  • 41.5% of All Las Vegas Valley Listings
  • 10.1% of All Las Vegas Valley Sales
     

Read here for the most current Las Vegas Area Short Sale Report.

Read here for last month's report on Las Vegas Area Short Sales.

If you need to sell your home through the short sale process, you can either fill out the form on this page or you can call 702-966-2494 and press option 0. 

DISCLAIMER:  The information, photographs & content  contained within Renee Burrows' blog is the property of Renee Burrows.  You must obtain written permission from Renee Burrows or use the Active Rain "reblog" function and reblog the post in  its entirety without revision if you would like to use any of this content.  Opinions expressed are those of Renee Burrows may not necessarily be opinions of past and present brokers.  Many articles may be time and date sensitive so please always look at the date posted.  For most current brokerage and contact information, refer to my Active Rain profile.

**Las Vegas, NV Area Short Sale July 2009 Real Estate Market Inventory Update**

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