Las Vegas NV Area September 2009 REO Inventory Update: Still Slim Pickins!
By Renée Donohue~Home Photography, Western Michigan Real Estate Photographer
(Savvy Home Pix)
Inventory has fallen since last report (-235 units), Under Contracts have fallen (-202) units Closing data is DOWN at -5 units. Low interest rates have spurred a flurry of buyer interest & activity this December and it continues. REO sales accounted for 69% of all Las Vegas Area Valley resale closings in September 2009. REO listings account for only 21% 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 (10/15/2009): 2144 Under Contract (10/15/2009): 5043 Sold September 2009: 2869 Absorption Rate: 0.7 Months (THATS LESS THAN ONE MONTH = VERY LITTLE INVENTORY) View Last Month's Report Here To find the most recent report, click here