Foreclosures up 66% in Las Vegas! Real Estate Market Update

Real Estate Market Update for October 2022 in Las Vegas. Foreclosures are up 66% in September 2022 from 2021 in Las Vegas. Nevada is 2nd in the nation in foreclosures in the nation with Illinois being 1st and California being 3rd in total home foreclosures. Reno foreclosures are up as well.

The rising foreclosures are actually only because of the historically low number of bank foreclosures from 2021. Any market crash would require a large number of homes to hit the market and without massive foreclosures this is unlikely to happen in 2023. Also this has kept the real estate market in Las Vegas from going into a bubble.

Todd and Oana are Las Vegas real estate brokers and have sold over 3,000 foreclosures.

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