Las Vegas NV Area Pendings Real Estate Market Report for May 2012 (includes Henderson & North Las Vegas)
By Renée Donohue~Home Photography, Western Michigan Real Estate Photographer
(Savvy Home Pix)
Las Vegas Real Estate Inventory is seeing a major decrease as the aftermath of NV AB 284. Active listings are down again for the 17th month in a row! 2012 will be another interesting year for Las Vegas Real Estate! Las Vegas Area Market Activity (Includes North Las Vegas, Henderson and Las Vegas) Listings (6/15/2012): 4604 Under Contract (6/15/2012): 15623 Sold May 2012: 3992 Short Sales: 25% of Listings 32% of Sales REO (Foreclosures, Bank Owned:) 13% of Listings 34% of Sales In One Month: Listings are DOWN -209 units, Contracted Listings DOWN -298 units, Sales are UP +203 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 TIME BUYERS, HOWEVER!! Last Month's Pending...