The Las Vegas residential resale real estate market experienced itâ€™s THIRD increase in inventory after 18 consistent months of declines in September 2012! Â It seems like the Las Vegas home inventory has â€œbottomed outâ€ a bit from the sharp declines. Â While minimal it is certainly a step in the right direction for buyers who are searching for a home in the Las Vegas Market.
In June, Las Vegas short sale home closings outpaced Las Vegas REO (bank owned) home closings for the first time since the Las Vegas real estate demise started in 2006. Â Our absorption rate is in â€œEXTREMEâ€ sellerâ€™s market mode with less than 2 months of inventory which indicates a strong sellerâ€™s market. Â Short sales are continuing to outpace REO & Equity sales in Las Vegas in October.
TheÂ Las Vegas REO (foreclosures,Â bank owned) sector remains a EXTREME sellerâ€™s market WITH LESS THAN 1 month of inventory & theÂ Las Vegas Short SaleÂ sector is also in an EXTREME sellerâ€™s market.
Las Vegas HomeÂ Sales were strong with 33620 units sold in August 2012.
Cash sales still dominate theÂ Las Vegas sold termsÂ with over 50% of the homes selling with cash vs financed offers (VA/FHA/Conventional.)
Las Vegas Area Market ActivityÂ â€“ shows general Las Vegas Market Activity, Trends & Absorption
Las Vegas Area Sales by TypeÂ â€“ Four Graphs to Show Las Vegas Area Sales Trends.Â See what percentage of Las Vegas Area Sales are Short Sales, REO (bank owned) & Standard Sales!
Las Vegas Area Sold TermsÂ â€“ Various Graphs and Charts that show what percentage of homes were Cash only or Financed.Â Financed homes divided by Cash, Conventional, FHA or VA.
Las Vegas Area Concession StandÂ â€“ Shows what percentage of concessions (or closing costs) sellers are giving buyers.
Las Vegas Area REO or Bank Owned HomesÂ â€“ Comprehensive Reports on Las Vegas Area REO including financing profiles by price pointÂ and absorption rate.
Las Vegas Area Short Sale HomesÂ â€“ Comprehensive Reports Detailing Short Sale Listing, Contract & Sold Stats.Â Includes Absorption Rate.
Enjoy and feel free to ask questions about these reports or trends right here
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