Las Vegas, NV Area Short Sale April 2009 Inventory Update: WE HAVE MOVEMENT!
By Renée Donohue~Home Photography, Western Michigan Real Estate Photographer
(Savvy Home Pix)
The absorption rate for Las Vegas Valley Area Short Sales went down for April 2009. Absorption still remains high BUT is under the 2 year mark. Solds have FINALLY gone from hovering the 200 unit mark and went over the 300 mark. I see improvement in this sector! Inventory has decreased (-542 units). Pending units have increased by +1010 units. Solds have increased by a very nice +94 units. Absorption down by 10.6 months There are many reasons for the lack of closings in this market and it is outlined in this post. Short Sale Synopsis: Listings 5/15/2009: 5156 Pending 5/15/2009: 4336 Closed April 2009: 317 Month's Inventory: 19.4 (=1.6 Years Inventory.) Short Sales Currently Account for: 41.2% of All Las Vegas Valley Listings 8.2% of All Las Vegas Valley Sales One thing you re...