2010 Foreclosures by City: Las Vegas Still No. 1
The report shows that foreclosure activity increased from 2009 in 149 of the nation's 206 metropolitan areas with a population of 200,000 or more. There was some good news, however. The metro areas with the 10 highest foreclosure rates -- including Las Vegas -- all posted decreasing foreclosure activity from 2009, and six of the top 10 also posted decreasing foreclosure activity from 2008. RealtyTrac's report incorporates documents filed in all three phases of foreclosure: Default, Notice of Default, and Lis Pendens. Past trends in foreclosures continued in the hardest hit markets: "California, Florida, Nevada and Arizona cities accounted for 19 of the top 20 metro foreclosure rates."
"Foreclosure floodwaters receded somewhat in 2010 in the nation's hardest-hit housing markets," said James J. Saccacio, chief executive officer of RealtyTrac. "Even so, foreclosure levels remained five to 10 times higher than historic norms in most of those hard-hit markets, where deep faultlines of risk remain and could potentially trigger more waves of foreclosure activity in 2011 and beyond. Meanwhile foreclosures became more widespread in 2010 as high unemployment drove activity up in 72 percent of the nation's metro areas -- many of which were relatively insulated from the initial foreclosure tsunami."
See 2010 top 20 metro foreclosure rates here.