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 ... 06/17/2009