Las Vegas NV Area April 2010 REO Inventory Update (Marching Upwards...A LITTLE)

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Las Vegas Area REO Inventory has RISEN since last report (+431 units), Under Contracts have FALLEN (-64) units  Closing data has FALLEN (-384) units.  Low interest rates have spurred a flurry of buyer interest & activity this December and it continues.  

REO sales accounted for 45% of all Las Vegas Area Valley resale closings in April 2010.  REO listings account for only 19% 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 (5/15/2010): 1779
  • Under Contract (5/15/2010): 2749
  • Sold April 2010:  1626

View Last Month's Report Here  

To find the most recent report, click here

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


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Re-Blogged 1 time:

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  1. Aaron Vaughn | Builder | Investor 05/19/2010 05:10 PM
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Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

Hi Renee -- glad that it's marching . . . and not crawling!  Think POSITIVE!!  We have the inventory, lack the buyers.

May 19, 2010 05:37 AM #1
Sidney Kutchuk - Realty Works Temecula Kutchuk - Realty Works Temecula
Realty Works Temecula - Temecula, CA
Realty Works Temecula

Renee:  I heard on National News that your market reported slightly lower sales statistics!   But if rates stay low all of the new listings and new interest will keep those multiple offers coming in!

May 19, 2010 06:31 AM #2
Claude Cross
Homes By Cross, Inc. - Charlotte, NC
Charlotte NC Homes For Sale

Renee - I swear your market is getting better. I am swamped. Our market is keeping me hoppin'

May 19, 2010 09:40 AM #3
Esko Kiuru
Bethesda, MD


Closings have slowed a bit, hopefully that doesn't start a new trend.

May 23, 2010 02:12 PM #4
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

Carla:  Oh I will never forget when there were no buyers!  It is good to have very little inventory.

Jane:  I think the reason why April sales were lower than March is because of our lack of sellable inventory :)


Esko:  I think the sales will be brisk through June, after that it all remains to be seen!

May 24, 2010 01:36 AM #5
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