Las Vegas Real Estate Wire

The Repo Market Keeps Growing and Going.  Bank repo homes in Las Vegas accounted for 82.6% of all closings in the past 30 days!  An amazing number considering they account for only 35% of the total homes on the market.  Other news – good news!  Total inventory of condos/townhomes/detached homes is at the lowest point since 2nd week of January 2007.  Is this a trend to continue, it’s possible.  There are more homes under contract this week than at any point in my 25 months of reporting.  A high number of Pending sales indicates a higher number of closed sales in the coming weeks.  Within 3 weeks, the Las Vegas market will see the highest number of closings since 2006 in any 30 day period.  It appears the fence those buyers have been sitting on is a little less crowded.

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This entry was posted on Saturday, February 28th, 2009 at 5:39 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.