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Las Vegas NV Area November 2009 REO Inventory Update: Still Very Little Inventory

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

Las Vegas Area Foreclosures For Sale - Pending - Sold

Las Vegas Area REO Inventory has risen since last report (+10 units), Under Contracts have fallen (-543) units Closing data has vallen (-491 units). Low interest rates have spurred a flurry of buyer interest & activity this December and it continues.

REO sales accounted for 63% of all Las Vegas Area Valley resale closings in October 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 (12/15/2009): 2253
  • Under Contract (12/15/2009): 3911
  • Sold November 2009: 2378
  • 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