Las Vegas, NV Area Short Sale October 2009 Inventory Update
By Renée Donohue~Home Photography, Western Michigan Real Estate Photographer
(Savvy Home Pix)
The absorption rate for Las Vegas Valley Area Short Sales is finally seeing movement. Absorption is moving to the stable market territory at only 6.5 months of inventory. Solds have FINALLY gone from hovering the 200 unit mark and went over the 500 mark. I see improvement in this sector! Inventory has decreased (-116 units). Pending units have increased by +179 units. Solds have increased by +96 units. There are many reasons for the lack of closings in this market and it is outlined in this post. Short Sale Synopsis: Listings 11/15/2009: 4475 Pending 11/15/2009: 8738 Closed October 2009: 688 Month's Inventory: 6.5 Short Sales Currently Account for: 43% of All Las Vegas Valley Listings 16% of All Las Vegas Valley Sales Read here for the most current Las Vegas Area Short Sale ...