Las Vegas NV Area December 2009 REO Inventory Update

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Services for Real Estate Pros with Savvy Home Pix B.1000860.LLC

Las Vegas Area REO Homes For Sale

Las Vegas Area REO Inventory has FALLEN since last report (-116 units), Under Contracts have FALLEN (-623) units  Closing data has RISEN (+170).  Low interest rates have spurred a flurry of buyer interest & activity this December and it continues.  

REO sales accounted for 62% of all Las Vegas Area Valley resale closings in December 2009.  REO listings account for only 20% 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 (1/15/2010): 2137
  • Under Contract (1/15/2010): 3288
  • Sold December 2009:  2548
  • 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

Posted by

Thanks,  Renée Burrows 702-580-1783 Broker/Owner, REALTOR®
 

 

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Ambassador
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Hi Renee!  Love your background photo!  Even though the numbers are down, it's nice to hear that the flurry of buyer activity is continuing into the New Year.

Have a wonderful Sunday...

Jan 17, 2010 03:10 AM #1
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Jeff Belonger
Social Media - Infinity Home Mortgage Company, Inc - Cherry Hill, NJ
The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans

Renee... you have always been good with stats in your area. And yes, even down, this means decent activity for you.  Hope all is well, stranger.

Jeff Belonger

Jan 17, 2010 05:01 AM #2
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Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I hope the market will improve. I agree with Debe.I love the picture.

Jan 17, 2010 05:04 AM #3
Rainmaker
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Esko Kiuru
Bethesda, MD

Renee,

Banks sold over 2,500 REO homes last month. Nice. If that pace keeps up they'll sell about 30,000 of them over the next twelve months. That should eat up some of the inventory Vegas has. 

Jan 17, 2010 02:36 PM #4
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