Las Vegas NV Area Market Watch June 2012 (includes Henderson & North Las Vegas)

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

Las Vegas Homes For Sale

**The Freefall Inventory Plunge Continues in Las Vegas!!!**

We are still squeezed for inventory.  New REO listings are few and far between thanks to AB 284 with currently no end to that drama in sight.  Multiple offers on well priced homes are widespread. Everyone from first time buyers to investors are taking advantage of "opportunity".

Read more about Las Vegas Real Estate Inventory Analysis here and consumers may comment on this post.

Las Vegas Area Real Estate Market Watch was created for informational purposes only.

This is for all the buyers wondering "where is the inventory"? The inventory is here, this graph shows that buyer interest is extremely high and gobbling up all that new inventory coming online!

This is also for people saying "shadow inventory exists"! Well I believe it exists but it also exists in Las Vegas short sales which has tripled to quadrupled it's formerly stagnant close ratio since late spring.

These are Listing/Under Contract & Pending/Sold Trends from December 2007-May 2012.

Contracted closings are stalled because of the large amount of Las Vegas short sales that are contracted.

Posted by

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

 

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Nevada/Las Vegas REO, Fourclosure, Short Sale Specialist
City and State
Las Vegas Foreclosures - Homes, High-Rises-Condos
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Rainmaker
3,484,415
Kristin Johnston - REALTOR®
RE/MAX Realty Center - Waukesha, WI
Giving Back With Each Home Sold!

Renee, once again you drive home your point with a terrific graph!  The buyers are out and the inventory is going down down down...

Jun 18, 2012 11:27 PM #1
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Amanda Christiansen
Christiansen Group Realty (260)704-0843 - Fort Wayne, IN
Christiansen Group Realty

Your Las Vegas Market Reports are amazing Renee.  Keep up the great work!                                                                  

Jun 18, 2012 11:45 PM #2
Rainmaker
4,451,648
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Renee, it is nice to see markets improving and seeing multiple offers - bout time!

Jun 18, 2012 11:46 PM #3
Rainmaker
1,059,464
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

First reaction is that Bruce Springsteen's in LV singing I'm Going Down, Renee!  I can't get him to turn his amps any quieter.  Think "Inventory" while listening!

Jun 19, 2012 12:21 AM #4
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Florida Tolbert Team Keller Williams Advantage
Keller Williams Advantage III Realty in Lake Nona - Orlando, FL
Keller Williams Land Luxury Division Specialist

Oh my what a problem to have... TOO MUCH business for your title companies to keep up with.  AAAHHHHH.

Jun 19, 2012 01:16 PM #5
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Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

Thank you all for the comments!

Jul 17, 2012 02:51 AM #6
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Renée Donohue~Home Photography

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