(Seattle, WA)  –  Las Vegas continues to lead the nation in underwater mortgages, but the situation is improving.

Zillow.com says between July and September, 63% of Las Vegas homeowners owe more than their properties are worth.  That’s down from nearly 69% in the second quarter.

North Las Vegas ranked even higher at nearly 74%.  In Henderson, the underwater rate was just over 55%.

Zillow says about 28% of homeowners across the nation owe more than their homes are worth.