Inventory has fallen since last report (-235 units), Under Contracts have fallen (-202) units Closing data is DOWN at -5 units. Low interest rates have spurred a flurry of buyer interest & activity this December and it continues.
REO sales accounted for 69% of all Las Vegas Area Valley resale closings in September 2009. REO listings account for only 21% of total resale listings.
Current Listed Bank Owned Statistics:
- Listings (10/15/2009): 2144
- Under Contract (10/15/2009): 5043
- Sold September 2009: 2869
- Absorption Rate: 0.7 Months (THATS LESS THAN ONE MONTH = VERY LITTLE INVENTORY)
© 2009 Renee Burrows AHWD - SRES - SRS - Las Vegas Real Estate Market Report Blog