Las Vegas Area REO Inventory has risen since last report (+99 units), Under Contracts have fallen (-589) units  Closing data is UNCHANGED.  Low interest rates have spurred a flurry of buyer interest & activity this December and it continues.   REO sales accounted for 66% of all Las Vegas Area Valley resale closings in October 2009.  REO listings account for only 22% 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 (11/15/2009): 2243 Under Contract (11/15/2009): 4454 Sold October 2009:  2869 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 11/18/2009