Where the housing market once boomed is now where is falters the most, this is especially the case the Las Vegas, Nevada. Vegas has been at the top of the foreclosure lists since the beginning of the housing meltdown, and it continues to be among the worst hit areas.

Recently DataQuick released statistics stating that Las Vegas home sales rose as investors and first time buyers take advantage of the low prices that have come from foreclosure sales. They reported that,  “Nearly 70 percent of the Las Vegas-area houses and condos that resold in July were foreclosure resales, meaning those homes had been foreclosed on in the prior 12 months.” This number seems very high compared to Southern California’s 43% foreclosure sale rate.

This entry was posted on Thursday, September 10th, 2009 at 5:58 pm and is filed under Foreclosure. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.