Las Vegas, NV Foreclosure Listings: Five Weeks Post Auction, Pendings are Still Rising!!

Pendings are still rising 5 weeks post Las Vegas Foreclosure auctions!  Five weeks post we are looking at rising closings (+10 Units/one week) and pendings rose at a nice rate when I expected them to start leveling off (+66 Units/one week)!  Yes we are seeing listings rise (+51 units/one week).   I am almost wondering if this market may swing into a seller's market for one or two months early in 2008.  It is definitely the closest thing to a seller's market when you break down all the sub markets here.  

Here are current REO (bank owned, foreclosure) statistics:

• Listings (1/13/2008):  2261
• Under Contract (1/13/2008): 649
  
• Sold (12/5/2007-1/5/2008):  292
• Month's Inventory: 7.7

View last weeks stats here.

View Monthly stats here. 

I was only going to do these stats weekly for 6 weeks but it looks like I will continue to do them as long as the closings and pendings are rising steadily!  This is THE market to watch!