Las Vegas NV Area August 2009 REO Inventory Update: Not Much Out There (less than one month inventory!)

Inventory has fallen since last report (-270 units), Pendings have risen (+9) units Closing data is DOWN at -541 units. Low interest rates have spurred a flurry of buyer interest & activity this December and it continues.

REO sales accounted for 72% of all Las Vegas Area Valley resale closings in August 2009. REO listings account for only 22% 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 (9/15/2009): 2379
• Under Contract (9/15/2009): 5245
• Sold August 2009: 2874
• Absorption Rate: 0.8 Months (THATS LESS THAN ONE MONTH = VERY LITTLE INVENTORY)

View Last Month's Report Here

To find the most recent report, click here