Bank owned real estate for sale and foreclosures account for a huge percentage of Las Vegas sales. In February, only around 20% of sales were for regular homes.
Broker homes sold mostly for cash in Nevada in January. Cash buyers have reportedly become power players in the housing market of the state and the whole U.S.
Foreclosure proceedings continue to occur in Nevada while another foreclosure relief program gets started. The state is set to receive more than $38 million.