Las Vegas NV Area February 2010 REO Inventory Update
By Renée Donohue~Home Photography, Western Michigan Real Estate Photographer
(Savvy Home Pix)
Las Vegas Area REO Inventory has FALLEN since last report (-670 units), Under Contracts have FALLEN (-96) units Closing data has FALLEN (-867) units. Low interest rates have spurred a flurry of buyer interest & activity this December and it continues. REO sales accounted for 57% of all Las Vegas Area Valley resale closings in January 2010. REO listings account for only 15% 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 (3/15/2010): 1467 Under Contract (3/15/2010): 3192 Sold February 2010: 1683 Absorption Rate: 0.9 Months (THATS LESS THAN ONE MONTH = VERY LITTLE INVENTORY) View Last Month's Report Here To find the most recent report, click here
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