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Las Vegas NV Area February 2010 REO Inventory Update

Renee Burrows - Las Vegas Real Estate -  (702-580-1783) www.ShackDiva.com: Real Estate Agent in Las Vegas, NV

Las Vegas Area REO Homes For Sale

Las Vegas Area REO Listings Absorption Rate

Las Vegas Area REO Inventory has FALLEN since last report (-670 units), Under Contracts have FALLEN (-96) units Closing data has FALLEN (-867) units. Low interest rates have spurred a flurry of buyer interest & activity this December and it continues.

REO sales accounted for 57% of all Las Vegas Area Valley resale closings in January 2010. REO listings account for only 15% 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 (3/15/2010): 1467
  • Under Contract (3/15/2010): 3192
  • Sold February 2010: 1683
  • Absorption Rate: 0.9 Months (THATS LESS THAN ONE MONTH = VERY LITTLE INVENTORY)

View Last Month's Report Here

To find the most recent report, click here