Las Vegas NV Area August 2009 REO Inventory Update: Not Much Out There (less than one month inventory!)

Reblogger
Real Estate Agent with RE/MAX CENTRAL

 

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

Las Vegas Area REO Homes For Sale

Inventory has fallen since last report (-270 units), Pendings have risen (+9) units  Closing data is DOWN at -541 units.   Low interest rates have spurred a flurry of buyer interest & activity this December and it continues.  

REO sales accounted for 72% of all Las Vegas Area Valley resale closings in August 2009.  REO listings account for only 22% 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 (9/15/2009): 2379
  • Under Contract (9/15/2009): 5245
  • Sold August 2009:  2874
  • Absorption Rate:  0.8 Months (THATS LESS THAN ONE MONTH = VERY LITTLE INVENTORY)

View Last Month's Report Here  

To find the most recent report, click here

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Comments (1)

Vickie Nagy
Coldwell Banker Residential Real Estate - Palm Springs, CA
Vickie Jean the Palm Springs Condo Queen

We're battling low inventory here in the East Bay as well. Well priced properties in good condition almost always draw multiple offers.

Oct 05, 2009 05:27 AM