Las Vegas Foreclosures Stats Still High, Similar to Other Sun Belt Cities

DSnews.com, Jan 28, 2010 – Cities like
California, Florida, Nevada, and Arizona still continue to lead the nation in
terms of foreclosure rates. The report by RealltyTrac mentioned that these four
states accounted for all top 20 foreclosure rates among metro areas last 2009.
They also noted that foreclosure activity is spreading into other metro areas
where unemployment is high.

Las Vegas foreclosures was ranked as having the nation’s
highest foreclosure rate for the year, with more than 12% of Las Vegas homes receiving a foreclosure
notice in 2009, which is more than 5 times the national average. In spite of
that, Las Vegas reported a quarter-to quarter decline in foreclosure activity during
the fourth quarter. This may be due to the fact that Las Vegas short sales are gaining
popularity as an alternative to Las Vegas foreclosures.

“While
it was expected that cities from states with the highest levels of foreclosure
activity would top the charts, there is evidence that we’re entering a new wave
of foreclosures, driven more by unemployment and economic hardship than what
we’ve seen over the past few years,” (Quoted from: www.dsnews.com)

View More Las Vegas Foreclosures Information Here!