Las Vegas leads the nation in underwater mortgages, but there are signs of improvement.
Nevada led all states with a 22.2 percent gain in home prices for the month of March.
After five straight months in the number two position, Nevada once again leads the nation in foreclosure starts.
Home prices in the Las Vegas area are up 7.3 percent from a month ago and nearly 31 percent from last year as supply stays short.
After being one of the areas hardest hit by the housing bust, Las Vegas is now posting some of the nation’s largest increases in home prices.
Analysts say the price of land in Las Vegas is rising at a “downright scary” pace as the housing market recovers.
Analysts say Nevada still leads the nation in underwater mortgages, although rising home prices have improved the overall equity situation in the U.S.
Nevada foreclosure filings hit a 17-month high in February.
Home prices throughout the Las Vegas valley continue to rise steadily.
A growing number of homes in Nevada are being sold for less than what’s owed on them.
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