The June report is out from Altos Research which summarizes April data (it takes a long time to compile). Las Vegas is still on the lower end of the days on market spectrum due to solid sales, especially for bank owned homes. This measure appears to use complete days on market (can substantially differ from DOM), which tracks the whole time a particular home has been on the market even if listing agents removed the home from the MLS for a while and then re-added it with a price change.

Interestingly, Miami is still showing the weakest turnover and not suprisingly, Detroit is still in the top five. By this one measure, Las Vegas is fairing a little better than its closest comparison city, Phoenix, which has experienced a similar pattern in inventory build up and price decline. Lately we have been finding that some of the nicer homes that are priced with the market have been going to contract in less than 30 days. A few of the ones I was looking at myself went into contingent status with cash in less than two weeks.

Source: Altos Research.