Las Vegas Real Estate Career

January closings reflect a seasonal dip in numbers, but the current level of activity remains very high.
So, let’s first download and take a look at: January 2009 Resale Market Snapshot.

Closed sales prices continue to fall faster than listing prices leaving the Greater Las Vegas market either 21% over priced or perhaps 21% undervalued! The one month absorbtion rate dropped slightly to 14.3%; but compare that to 6.3% just one year ago.

Bank owned REO sales shot up to eighty-one percent (81%) of all residential closings despite the fact that they account for only thirty-five percent (35%) of all available listings. The number of available listings for single family residences held steady. The current Greater Las Vegas stats related to financing - and they are a dramatic shift from just a few, short months ago - are: