It’s Friday again, and time for Friday Figures! All information from the GLVAR MLS system. Read this before touring, making offers, or listing property in the Las Vegas Valley this weekend!

Summary: Available listings held steady, coming in at 11,005. Price of available units was also steady. Supply of available bank owned homes continues to drop, while more short sales are available — let’s hope those short sales close and prevent foreclosures. The drop in inventory levels for both sub-$100k and million dollar plus homes is encouraging. Contingent and pending listings edged up slightly, remaining over 14,000. I am continuing to monitor the rental market for potential weakness, but rents remain steady.

Other Information: It looks like permanent loan modifications are very rare indeed; depending on the program, 2%-4% of trial modifications have resulted in permanently lower payments. This bodes ill for the long term recovery of the overall housing market.

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