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Renee Burrows' Blog

By Renee Burrows | Broker in Las Vegas, NV

Las Vegas NV Area Market Watch ~ INVENTORY IS LOW!

Las Vegas Homes For Sale

**LAS VEGAS AREA RESIDENTIAL RESALE HOME INVENTORY DROPS AGAIN!!!**

We are still squeezed for inventory.  New REO listings are few and far between thanks to AB 284 with currently no end to that drama in sight.  Multiple offers on well priced homes are widespread. Everyone from first time buyers to investors are taking advantage of "opportunity".

Read more about Las Vegas Real Estate Inventory Analysis here and consumers may comment on this post.

Las Vegas Area Real Estate Market Watch was created for informational purposes only.

This is for all the buyers wondering "where is the inventory"? The inventory is here, this graph shows that buyer interest is extremely high and gobbling up all that new inventory coming online!

This is also for people saying "shadow inventory exists"! Well I believe it exists but it also exists in Las Vegas short sales which has tripled to quadrupled it's formerly stagnant close ratio since late spring.

These are Listing/Under Contract & Pending/Sold Trends from December 2007-January 2013.

Contracted closings are stalled because of the large amount of Las Vegas short sales that are contracted.

copyright 2006-2011 Renee Burrows, REALTOR®, The Force Realty  702-966-2494

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Comments

By Kerry Lucasse,  Thu Jan 31 2013, 08:04
We're seeing the same thing here in Atlanta. As soon as I get a new listing, it is usually sold within a week.
By Sharon Paxson,  Sun Feb 3 2013, 09:17
Seeing the same thing here in Newport Beach with very limited inventory.
By Renee Burrows,  Thu Feb 7 2013, 16:25
Good news all over the country ladies!

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