Las Vegas NV Area September 2009 REO Inventory Update: Still Slim Pickins!

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