Short sales, REOs rule in Las Vegas

Distressed properties make up more than 70 percent of transactions

While some metropolitan areas are seeing stagnant sales activity, the Las Vegas residential real estate market saw more than twice as many home sales in September, 3,603, as it did in the same month in 2006, when 1,740 homes sold, according to the Greater Las Vegas Association of Realtors, which covers Las Vegas and surrounding areas in Southern Nevada.

"Our market actually is quite vibrant in Las Vegas. Unfortunately, it