(Las Vegas, NV)  –  For the first time in five years, banks have completed more short-sale transactions than foreclosures in the Las Vegas Valley.

David Brownell with Keller Williams Realty tells the “Review-Journal” that mark was achieved in May, when short-sale closings outnumbered foreclosures by more than a dozen.

Brownell says Nevada’s new “robo-signing law,” requiring lenders to provide proof of authority to foreclose, has led banks to step up their short-sale efforts.