This is the latest Las Vegas Real Estate Market Report from www.NARREIA.com (National Association of Residential Real Estate Investment Advisors). For the week of September 30, 2009, data is obtained from the Greater Las Vegas Association of Realtors MLS.

Single Family Residence (SFR)
Available 8,478 (+36 , Last Week 8,442)
Under Contract 11,868 (+0 , Last Week 11,868)
Days of Supply 21 (+0 , Last Week 21)
Short Sales 10,265 (+127 , Last Week 10,138)

Condominiums and Town Homes (CONDO/TH)
Available 2,464 (-69 , Last Week 2,533)
Under Contract 2,898 (+35 , Last Week 2,863)
Days of Supply 26 (-1 , Last Week 27)
Short Sales 2,792 (+27 , Last Week 2,765)

Combined SFR + CONDO/TH
Available 10,942 (-33 , Last Week 10,975)
Under Contract 14,766 (+35 , Last Week 14,731)
Days of Supply 22 (+0 , Last Week 22)
Short Sales 13,057 (+154 , Last Week 12,903)

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Numerous reports today on the announcement from the Obama Admnistration that the Making Home Affordable Program (MHAP) is ahead of schdule with 500,000 borrowers have received an approved or trail loan modifcation.  Here is the article from the LA Times Business section:

Mortgage modification program ahead of schedule, White House says

The $75-billion Making Home Affordable program, after a fitful start, has helped 500,000 borrowers get their payments lowered, the administration says.

Here is an excerpt from the article:

Bank of America, the nation's No. 1 mortgage servicer, said this week it would meet the goal set for it by the administration of 125,000 modifications by Nov. 1. The company said it had started about 95,000 modifications as of Sept. 30. Wells Fargo reported today that it had arranged 62,989 trial modifications under the program as of Sept. 30, nearly double the number of modifications it had done through the end of August.

Administration officials said that about 40% of the nation's estimated 1.2 million eligible homeowners are participating in the program. To qualify, a homeowner must be living in the house and the loan can't be above $729,500. The administration said it wants to modify 3 million to 4 million mortgages over the next three years.

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