Las Vegas NV Area Pendings Report for April 2011 (includes Henderson & North Las Vegas)
By Renée Donohue~Home Photography, Western Michigan Real Estate Photographer
(Savvy Home Pix)
Las Vegas Real Estate Inventory has stabilized after the months of increase following the first time buyer's tax credit expiration. Against my predictions, we are still a seller's market after flirting with stable market territory for months. . Las Vegas Area Market Activity (Includes North Las Vegas, Henderson and Las Vegas) Listings (5/15/2011): 14096 Under Contract (5/15/2011): 13241 Sold April 2011: 3790 Short Sales: 47% of Listings 24% of Sales REO (Foreclosures, Bank Owned:) 22% of Listings 48% of Sales In One Month: Listings are DOWN -29 units, Contracted Listings UP +190 units, Sales are DOWN -369 units. Close ratios are going lower because much of the pending inventory is short sales which requires LONGER close times. DOWN PAYMENT ASSISTANCE HAS NOT ENDED FOR FIRST TIM...