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Better Off Than 2008? Housing Study Says Mixed Bag

LAS VEGAS (AP) — A new report comparing the current housing market to the situation four years ago says the picture is a mixed bag for southern Nevada.

An analysis by foreclosure tracking firm RealtyTrac notes that Clark County’s home prices are down 41 percent and unemployment is up 52 percent since fall 2008.

But it also lists some positives. The inventory of foreclosed properties is down 55 percent, and the number of properties entering the foreclosure process is down 78 percent since 2008.

Foreclosure sales account for a slightly smaller proportion of overall sales compared with four years ago, as short sales become more common. Foreclosure sales are down six percent.

Much of the change came when a Nevada law took effect last October, requiring lenders to file more paperwork before foreclosing.

(© Copyright 2012 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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