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Vegas Forclosures Significantly Lower In 2012

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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) — Las Vegas ended 2012 in the top 20 for foreclosure rates, despite major improvements.

A year-end survey by RealtyTrac shows one in every 32 Vegas homes had a foreclosure filing last year, down 57% from 2011. Sin City ranked 16th among major metro areas in 2012.

RealtyTrac names the Las Vegas Valley as one of the worst areas to buy a foreclosed home this year. Fewer foreclosures have resulted in tight inventory and relatively small discounts.

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