Las Vegas Real Estate Wire

 The Repo Market Leaves No Doubt.  A crazy 81.4% of all closings in the past 30 days were bank repos in this weeks Market Snapshot.  A measly 10.6% of closings were real Sellers – with equity – in the market.  Outside of the fact the homes moving are those owned by banks, the market is providing great buying opportunities – a secret that appears to be getting out.  Pending sale numbers are above 7000 for the first time since September 08.  Closings in the past 30 days are up as well to its highest point in 8 weeks.  Interest rates are rattling up and down around 5%.  Home prices continue to decline – as much as 10% in the last 30 days in some segments.  With rental inventory absorption diminishing – now looks like a great time to pick up a rental home – some up to 60% off their previously sold price!

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This entry was posted on Wednesday, February 18th, 2009 at 4:44 am and is filed under Las Vegas Market Data, Weekly Market Snapshots. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.