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Not As Many Underwater

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Photo: Getty Images/Ethan Miller/Staff

Photo: Getty Images/Ethan Miller/Staff

JoeG Joe Gillespie
Joe Gillespie hosts the KXNT Morning News, the latest step in a career...
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(Las Vegas, NV) — Many Las Vegas valley homeowners remain underwater, but things are improving.

RealTrak reports during the first quarter Nevada leads the nation with the highest percentage of residential properties seriously underwater with 34-percent, in Las Vegas it’s 37 percent. But RealtyTrak Vice President Darren Bloomquist tells The  Las Vegas Morning News that the state and our city are down more than 20 percent from a year ago.

Officials say low housing inventory and more buyers are causing home prices to rise and sell over list price, giving homeowners who are moderately underwater a chance to avoid the foreclosure process.

Across the nation 9.1 million residential properties remain seriously underwater, but that’s the lowest level in two years.

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