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Foreclosure Rate Lowest In Five Years

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(photo: Ethan Miller/Getty Images)

(photo: Ethan Miller/Getty Images)

tate south Tate South
Email Tate at tate.south@cbsradio.com
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(Irvine, CA)  —  Foreclosure rates in Las Vegas fell during the third quarter to their lowest point in five years.

RealtyTrac says there was one foreclosure filing for every 139 homes in Las Vegas between July and September, down 30% from second quarter and down 71% from the same period in 2011.

Las Vegas is now 25th overall among major cities, helped in part by a rise in short sales where banks accept less than what homeowners owe.

Stockton, California was the top city for foreclosures in the third quarter.

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