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
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.
lol nice...
I find your statistics interesting since the Phoenix market mimics Las Vegas. Raincamp??
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?
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 :)