Las Vegas Real Estate February Sales Statistics

The two charts above clearly indicate that most residential real estate sales are REO / Bank owned properties followed by Short Sales and Traditional sales. At the present time the amount of REO inventory in the MLS system is decreasing. It is not known however, if the decrease is caused by property sales resulting in a reduction of REO inventory or from the banks holding more REO inventory for future release.

The recent foreclosure dominated market has created an extremely unusual statistic. The number of real estate purchases for "cash" has been steadily increasing. In February, 46% of sales closed with loans and 54% of sales closed with CASH.

Call Dale Duyan at 702-403-0797 or visit http://www.daleduyan.coldwellbankerwardley.com/ for more information.