Las Vegas NV Area May 2009 REO Inventory Update: Not Much Out There (less than one month inventory!)
By Renée Donohue~Home Photography, Western Michigan Real Estate Photographer
(Savvy Home Pix)
Inventory has fallen dramatically since last report (-815 units), Pendings have dropped -412 units Closing data is up at +33 units. Low interest rates have spurred a flurry of buyer interest & activity this December and it continues. REO sales accounted for 80% of all Las Vegas Area Valley resale closings in May 2009. REO listings account for only 22.7% 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 (6/15/2009): 2946 Under Contract (6/15/2009): 6118 Sold May 2009: 3147 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 If you are thinking about buying an REO ...