Inventory has fallen since last report (-188 units), Pendings have dropped -647 units  Closing data is up dramatically at +383 units.   Low interest rates have spurred a flurry of buyer interest & activity this December and it continues.   REO sales accounted for 76% of all Las Vegas Area Valley resale closings in June 2009.  REO listings account for only 23% of total resale listings. Multiple offers are streaming in as banks continue to lower to fire and auction sale prices. Current Listed Bank Owned Statistics: Listings (7/16/2009): 2758 Under Contract (7/16/2009): 5471 Sold June 2009:  3530 Absorption Rate:  0.8 Months (THATS LESS THAN ONE MONTH = VERY LITTLE INVENTORY) View Last Month's Report Here   To find the most recent report, click here If you are thinking about buying an REO... 07/17/2009