Las Vegas Foreclosure Stats: Two Weeks After the Auctions

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I may have been a little conservative when I estimated weeks ago that we would see 500 pendings rise from these Las Vegas Foreclosure auctions!  Two weeks post we are looking at rising closings and rising pendings (+57 Units)!  Yes we are seeing listings rise (+13 units), not to outpace the rise of closings and pendings.  I am almost wondering if this market may swing into a seller's market for one or two months early in 2008.  It is definitely the closest thing to a seller's market when you break down all the sub markets here.  I do want to hold off on my optimism.  We will be seeing another avalanche of foreclosures as speculators who are bleeding to death would rather chop off their arm (let a non-performing investment go back to the bank.)

Here are current REO (bank owned, foreclosure) statistics:

  • Listings (12/23/2007):  2133
  • Under Contract (12/23/2007):  557
  • Sold (11/15-12/15/2007):  236
  • Month's Inventory: 9.0 <~ Down 1.5 months from one week ago!


View last weeks stats here. 

Posted by

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


copyright 2006-2013 Renee Burrows, REALTOR®, Savvy Home Realty Solutions  702-966-2494

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