BluefoxToday blog : Las Vegas | Henderson | North Las Vegas NV June 2010 REO Inventory Update

Las Vegas | Henderson | North Las Vegas NV June 2010 REO Inventory Update

Las Vegas Area REO Homes for Sale

Las Vegas Area REO Absorption Rate and Real Estate Market Report

Las Vegas Area REO Inventory has RISEN since last report (+330 units), Under Contracts have FALLEN (-27) units  Closing data has RISEN (+161) units.  Low interest rates have spurred a flurry of buyer interest & activity  and it continues.  

REO sales accounted for 40% of all Las Vegas Area Valley resale closings in June 2010.  REO listings account for only 21% 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 (7/15/2010):  2476
  • Under Contract (7/15/2010): 2760
  • Sold June 2010:  1625

View Last Month's Report Here  



Thanks,  Renée Burrows 702-580-1783 Broker/Owner, REALTOR®
 

 

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Comment balloon 5 commentsRenée Donohue • July 23 2010 11:08AM

Comments

Shack, do not forget to satisfy the needs of your non buying public here on AR with at least one post per week showing some of that attitude that somehow slipped by the  AR Ambassador screening committee.

Posted by Steve and Jan Bachman, Realtors - Northern Virginia (RE/MAX Gateway, Reston, Herndon, Ashburn, Sterling, Fairfax ) about 8 years ago

lol nice...

Posted by Joe Harvey (Lake Worth Real Estate) about 8 years ago

I find your statistics interesting since the Phoenix market mimics Las Vegas.  Raincamp??

Posted by Sun City Grand Homes Surprise AZ Real Estate Leolinda Bowers Designated Broker Leolinda Realty, Sun City Grand in Surprise Arizona (Leolinda Realty) about 8 years ago

Renee,

REO sales have been hovering around this 40% mark for a stretch now and probably will stay there another while. Is there light at the end of the tunnel, some may ask?

Posted by Esko Kiuru about 8 years ago

Steve:  LOL!

Esko:  No light yet.  We are going to see REO numbers increase as Las Vegas Area Investor Trustee Sale purchasers back out of the market due to lower buyer activity.

Thanks Joe and Leolinda for comments :)

Posted by Renée Donohue, Las Vegas Real Estate Broker - www.urLVhome.com (Savvy Home Strategies Realty, LLC-REALTOR®-Estate-Probate) about 8 years ago

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