The absorption rate for Las Vegas Valley Area Short Sales is a strong seller's market. Since last month:  Active Listing Inventory has DECREASED by -55 units. Under Contract has DECREASED by -349 units. Sold units have INCREASED by +15 units. There are many reasons for the lack of closings in this market and it is outlined in this post. Short Sale Synopsis: Listings 5/15/2013: 490 Pending 5/15/2013: 8738 Closed April 2013: 1201 Short Sales Currently Account for: 13% of All Las Vegas Valley Listings 34% of All Las Vegas Valley Sales Read here for last month's report on Las Vegas Area Short Sales. Most Current Market Report For Short Sales Information About the Short Sale Process for Las Vegas Area Short Sale Buyers & Sellers What Areas Do You Cover for your Las Vegas Area Real Estate Ma... 05/22/2013

Renters are becoming buyers finally as resale purchase prices drop and economic conditions in the valley are preventing high numbers of new incoming residents to move here. This has softened rental prices slightly as many investors are buying all cash in the market currently and then renting. More homes available for rent (higher supply) and less renters (lower demand.) Units Leased: January 2013:  2608 December 2012:  2289 November 2012:  2690 October 2012:  2913 September 2012:  2626 August 2012:  3409 July 2012:  2912 June 2012:  3007 May 2012:  2880 April 2012:  2590 March 2012:  3031 February 2012:  2835 January 2012:  2471 December 2011:  2114 November 2011:  2290 October 2011:  2399 Average Monthly Rental Rates: January 2013:  $1462 December 2012:  $1535 November 2012:  $1240 Oc... 03/15/2013