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Clark County Housing Update

Realty Trac website has reported it’s May 2012 statistics for homes in Nevada. The report shows that, in May, 1 in every 313 homes in Nevada had received some sort of  new foreclosure notice (defaults, bank auctions, and/or repossessions).  Clark County carried the majority with 3,122 going to valley homes. This is in comparison to 3,755 in the entire state of Nevada. The City of Las Vegas received 2,175 notices, Henderson had 473 and North Las Vegas was at 385.  Nevada was not one of the top 10 states for having the most housing notices.  California lead the nation with 42,243;  followed by Florida, Illinois, Georgia, Texas, Ohio, Arizona, Michigan, Pennsylvania and South Carolina having 3,966 new notices.

Clark County seemed to be split evenly between foreclosure, auctions and repossession notices with at ration of 35-35-30. The majority of bank owned homes in Clark County range in the $100k – $200k and are generally greater than 2600 sq ft, giving buyers plenty of house for their money. If you have an option to buy, now is the time, as interest rates are still low. Henderson has the best savings on foreclosed homes, with an average 15% lower then home value. Las Vegas also has a good savings to offer with 9.75% lower sales price.

Home foreclosures are down from the May 2011 report.

If you would like more info on housing comparisons visit. http://www.realtytrac.com

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