Las Vegas Area REO Inventory has RISEN since last report (+367 units), Under Contracts have RISEN (+38) units Closing data has FALLEN (-162) units. Low interest rates have spurred a flurry of buyer interest & activity this December and it continues.
REO sales accounted for 42% of all Las Vegas Area Valley resale closings in May 2010. 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:
- Listings (6/15/2010):2146
- Under Contract (6/15/2010): 2787
- Sold May 2010: 1464
Shack Diva, are you sure you're not making this stuff up? Impressed, as always!
Renee
I always love to look at your market reports; especially the graphics
Renee,
REO sales still have 42% of the market despite short sales making a move.
Renee: So 80 percent of the listings are either Short Sale or Standard Sale listings. I would assume that most are Short Sale Listings.
Kevin: I couldn't make this stuff up if I tried ;)
Tom: Thanks :)
Esko: YUP it is down quite a bit!
Jane: Most are short sale listings!
Renee, the amount of pending reo's for this chart is amazing.
Heather: Yes ma'am. Very popular sale type!