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Las Vegas Area REO Inventory has FALLEN since last report (-116 units), Under Contracts have FALLEN (-623) units Closing data has RISEN (+170). Low interest rates have spurred a flurry of buyer interest & activity this December and it continues.
REO sales accounted for 62% of all Las Vegas Area Valley resale closings in December 2009. REO listings account for only 20% 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:
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