Las Vegas, NV Area Short Sale January 2010 Update

The absorption rate for Las Vegas Valley Area Short Sales is finally seeing movement. Absorption is swinging back into a buyer's market at 7.1 months of inventory. 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 increased by +99 units. Under Contract has increased by +581 units. Solds have decreased by -109 units.

There are many reasons for the lack of closings in this market and it is outlined in this post.

Short Sale Synopsis:

• Listings 2/14/2010: 4834
• Pending 2/14/2010: 9498
• Closed January 2010: 685
• Month's Inventory: 7.1

Short Sales Currently Account for:

• 47% of All Las Vegas Valley Listings
• 22% 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 Vegas Area Short Sales.

If you need to sell your home through the short sale process, you can either fill out the form on this page or you can call 702-966-2494 and press option 0.