Las Vegas NV Area March 2009 REO Update
By Renée Donohue~Home Photography, Western Michigan Real Estate Photographer
(Savvy Home Pix)
Inventory has fallen dramatically since last report (-595 units), Pendings have risen +1044 units Closing data is slightly up at +33 units. Low interest rates have spurred a flurry of buyer interest & activity this December and it continues. Foreclosures are showing NO signs of stopping! REO sales accounted for 81.2% of all Las Vegas Area Valley resales in February 2009. REO listings account for only 32.9% 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 (4/14/2009): 6642 Under Contract (4/14/2009): 5343 Sold March 2009: 2194 Absorption Rate: 1.9 Months View Last Month's Report Here To find the most recent report, click here If you are thinking about buying an...
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