December Shortsale Closings Up!

There were 4055 real estate closings in greater Las Vegas in December 2009.  Shortsale closings BY market share are up 100% from the same month last year!  Why? Lack of REO inventory and higher prices in the Owner category.  REO is still the preferred seller as REO sale prices are higher on average and DOM (days on market) are lower than Short sales.  Here is a breakdown by seller type:

Bank Repo (REO) 59.9% / Owner-Other 21% / Shortsale 19.1%