Las Vegas, NV Area Short Sale February 2010 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 swinging into stable market territory. Solds have FINALLY gone from hovering the 200 unit mark and near the 650-800 units mark. I see improvement in this sector! Inventory has DECREASED by -31 units. Under Contract has increased by +714 units. Solds have INCREASED by +9 units. There are many reasons for the lack of closings in this market and it is outlined in this post. Short Sale Synopsis: Listings 3/14/2010: 4803 Pending 3/14/2010: 10212 Closed February 2010: 694 Short Sales Currently Account for: 48% of All Las Vegas Valley Listings 23% of All Las Vegas Valley Sales Read here for the most current Las Vegas Area Short Sale Report. Read here for last month's report on Las Vega...