Cover, City of Las Vegas Residential Foreclosure Analysis

July 2016


  • Foreclosure starts in the City of Las Vegas (the “City”) increased 10.9 percent month-to-month in May 2016, rising from 174 to 193. Compared to a year ago, foreclosure starts decreased 9.8 percent, falling from 214. In the past 12 months, there have been 2,391 notices of default reported in the City, down 19.6 percent from the 2,973 reported in the prior 12-month period.

  • Trustee deeds (foreclosures) in the City increased 4.5 percent month-to-month in May 2016, rising from 89 to 93. Compared to the prior year, foreclosures have decreased 11.4 percent, falling from 105. In the past 12 months, there have been 1,263 foreclosures reported in the City, a decrease of 8.1 percent compared to the prior 12-month period.

  • In May, Ward 2 reported the greatest month-to-month increase in foreclosure starts, rising 62.5 percent from 16 to 26. Ward 6, which has the most foreclosure starts, had the second greatest increase, rising 25.5 percent from 47 to 59. However, in the past 12 months, Ward 6 reported 611 foreclosure starts, a decrease of 24.1 percent compared to the prior year. During the same time, Ward 4 also reported a significant decrease in the number of foreclosure starts, declining 28.6 percent from 563 to 402.

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June 2016


  • Foreclosure starts in the City of Las Vegas (the “City”) declined 8.4 percent month-to-month in April 2016, falling from 190 to 174. Compared to April 2015, foreclosure starts have significantly declined, falling by 33.1 percent from 260. In the past 12 months, the City has reported 2,412 notices of default, down 18.1 percent from the 2,946 reported in the prior 12-month period.

  • Trustee deeds (foreclosures) in the City decreased 21.2 percent both month-to-month and year-over-year in April 2016, dropping to 89. For the 12 months ending April, trustee deeds totaled 1,275 in the City, down 7.1 percent from the 1,373 reported in April 2015.

  • In April 2016, Ward 2 reported the greatest month-to-month decline in notices of default, decreasing 46.7 percent to a mere 16 notices, the lowest of all six wards. In the past 12 months, Ward 2 has reported 370 notices of default, also down 6.3 percent from the prior year. Additionally, Ward 6, which reported the highest number of notices in the past 12 months with 624, decreased 20.4 percent from the 784 notices reported in the prior year.

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May 2016


  • The City of Las Vegas (the “City”) experienced a 14.5-percent month-to-month increase in foreclosure starts in March 2016, rising from 166 to 190. However, foreclosure starts decreased 41.2 percent from the prior year, declining from 323 in March 2015. There have been a total of 2,498 notices of default reported in the City in the past 12 months, down 12.6 percent from the 2,857 reported in the prior 12-month period.

  • Trustee deeds (foreclosures) in the City increased 10.8 percent month-to-month, rising from 102 to 113 for March 2016. The City, however, experienced an 8.1-percent decline from the prior year. In the past 12 months, there have been 1,299 foreclosures in the City, a 9.0-percent decrease from the 1,427 foreclosures reported in the prior year.

  • Each ward reported an annual decline in foreclosure starts in March 2016, with Ward 3 reporting the most substantial decline of 53.8 percent. Meanwhile, Wards 2 and 6 reported year-over-year gains in trustee deeds (foreclosures), rising 31.6 percent and 30.4 percent, respectively. Ward 4 reported the largest annual decline in foreclosures in March 2016, falling 41.7 percent to 14.

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April 2016


  • Foreclosure starts in the City of Las Vegas (the “City”) declined 12.2 percent month-to-month in February 2016, falling from 189 to 166. Compared to a year ago, foreclosure starts decreased 31.1 percent, declining from 241. In the past 12 months, there have been 2,631 notices of default reported in the City, down a modest 2.3 percent from the 2,694 reported in the prior 12-month period.

  • Trustee deeds (foreclosures) in the City decreased 3.8 percent month-to-month but increased 10.9 percent year-over-year in February 2016 to 102 foreclosures. Despite recent gains, the 1,309 foreclosures reported in the past 12 months remain down 12.9 percent from the prior year.

  • In February 2016, the median price of a resale home increased 9.0 percent year-over-year to $189,995. The number of existing home closings increased 11.2 percent annually to 3,244 during the same month. In addition, effective inventory dropped to 3.5 months, which is a decrease of 10.7 percent compared to the prior year.

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March 2016


  • The City of Las Vegas (the “City”) reported 189 foreclosure starts in January 2016, down 10.4 percent from the prior month and down 28.4 percent from a year ago. Meanwhile, notices of default increased year-over-year for the trailing 12-month period, rising 3.5 percent to 2,706.

  • Trustee deeds (foreclosures) in the City reported a 5.4-percent month-to-month decline in January 2016, falling to 106. Compared to a year ago, foreclosures were down 3.6 percent. In the past 12 months, there have been 1,299 foreclosures in the City, down 17.5 percent from the prior year period.

  • For the 12 months ending January 2016, Wards 4 and 5 were the only wards to report annual declines in foreclosure starts, falling 10.1 percent and 3.2 percent, respectively. Each ward reported an annual decline in foreclosures during the period, with Ward 6 witnessing the most substantial decrease of 23.1 percent.

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February 2016


  • Foreclosure starts in the City of Las Vegas (the “City”) reached 211 in December 2015, up 6.0 percent from the prior month and up 6.6 percent from a year ago. There were 2,781 notices of default reported in the City during the year, which represents a gain of 12.9 percent compared to 2014.

  • Trustee deeds (foreclosures) increased 21.7 percent month-to-month in the City, reaching 112 in December 2015. However, the latest value is down 3.4 percent from a year ago. There were 1,303 foreclosures in the City in all of 2015, which represents a decline of 20.7 percent from 2014.

  • In 2015, there were 30,873 single-family resale home closings in southern Nevada, which represents an increase of 6.8 percent compared to 2014. The median closing price increased 6.4 percent year-over-year to $217,000.

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January 2016


  • Foreclosure starts in the City of Las Vegas (the “City”) increased 19.9 percent from October 2015 to November 2015 to 199. Meanwhile, compared to a year ago, foreclosure starts were relatively flat in the latest period, rising from 198. In the past 12 months, there have been 2,768 notices of default reported in the City, which is up 17.3 percent from last year.

  • Trustee deeds (foreclosures) in the City fell 2.1 percent month-to-month and 17.1 percent year-over-year to 92. There have been 1,307 foreclosures in the past 12 months, which represents a decline of 21.2 percent from the prior 12-month period.

  • In November 2015, there were 1,973 single-family resale home closings, down 2.9 percent compared to a year ago. However, the median resale closing price increased 8.9 percent year-over-year during the period to $220,000.

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December 2015

  • The City of Las Vegas (the “City”) reported 166 foreclosure starts in October 2015, representing a decline of 17.8 percent compared to the prior month and a decline of 28.1 percent compared to a year ago. In the past 12 months, there have been 2,767 notices of default in the City, which is up 22.0 percent compared to the prior 12-month period.

  • Trustee deeds (foreclosures) in the City fell 29.9 percent month-to-month and 20.3 percent year-over-year to 94. In the past 12 months, there have been 1,326 foreclosures in the City, which represents a decline of 20.6 percent from the prior 12-month period.

  • In October 2015, Ward 3 reported the most substantial year-over-year decline in foreclosure starts among City of Las Vegas wards, falling 58.1 percent to 13. Ward 1 was the only ward to report an annual increase in foreclosure starts, rising 13.3 percent to 34. Meanwhile, none of the wards reported an annual gain in foreclosures during the month, with Ward 2 remaining flat at 16 and Ward 5 reporting the largest decline of 40.0 percent.

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November 2015

  • The City of Las Vegas (the “City”) reported 202 foreclosure starts in September 2015, which represents a decline of 22.0 percent compared to the prior month and a decline of 30.1 percent from a year ago. In the past 12 months, there have been 2,832 notices of default reported in the City, up 32.3 percent from the prior 12-month period.

  • Trustee deeds (foreclosures) in the City increased 18.6 percent month-over-month to 134 in September 2015. Compared to a year ago, foreclosures increased a more modest 3.1 percent. The City has reported 1,350 foreclosures in the past 12 months, which is down 24.2 percent from a year ago.

  • Southern Nevada reported 2,721 single-family resale home closings in September 2015, which represents a gain of 14.3 percent compared to a year ago. The median resale home price was $220,000 during the month, up 8.6 percent from September 2014.

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October 2015

  • The City of Las Vegas (the “City”) reported 259 notices of default in August 2015, which represents an increase of 11.2 percent from the prior month and a gain of 12.6 percent from a year ago. In the past 12 months, foreclosure starts in the City declined 2.3 percent year-over-year to 2,919, resulting in a notice of default rate of 15 per 1,000 housing units.

  • Trustee deeds (foreclosures) in the City increased 5.6 percent month-over-month to 113 in August 2015, while they are up 3.7 percent compared to a year ago. There have been 1,346 foreclosures in the City in the past 12 months, which is down 27.3 percent from the prior year period and represents a foreclosure rate of 7 per 1,000 housing units.

  • In the past 12 months, Ward 1 reported the highest notice of default rate among City of Las Vegas wards with 18 per 1,000 housing units, while Ward 2 witnessed the lowest rate of 12 per 1,000 units. Wards 1, 3 and 5 each reported a foreclosure rate above the city-wide average, with 9 foreclosures per 1,000 housing units. Meanwhile, Ward 2 reported the lowest foreclosure rate, with 5 per 1,000 units.

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September 2015

  • Foreclosure starts in the City of Las Vegas (the “City”) totaled 233 in July 2015, which represents a gain of 11.5 percent from the prior month and a decline of 27.0 percent compared to a year ago. In the past 12 months, there have been 2,890 notices of default in the City, which is down 8.1 percent compared to the prior 12-month period.

  • The number of trustee deeds (foreclosures) in the City of Las Vegas reported little change from June to July 2015, falling from 108 to 107. Compared to a year ago, the City reported a 26.7-percent decline in foreclosures, falling from 146. In the past 12 months, there have been 1,342 foreclosures in the City, which is down 29.0 percent from a year ago.

  • In July 2015, there were 3,180 single-family resale home closings in southern Nevada, which represents a gain of 20.4 percent from a year ago. The median resale home price increased 9.0 percent year-over-year to $218,000.

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August 2015

  • Foreclosure starts in the City of Las Vegas (the “City”) declined 2.3 percent month-to-month in June 2015, falling from 214 to 209. Compared to a year ago, foreclosure starts increased 1.5 percent, rising from 206. In the past 12 months, there have been 2,976 notices of default reported in the City, down a modest 0.5 percent from the 2,992 reported in the prior 12-month period.

  • Trustee deeds (foreclosures) in the City increased 2.9 percent month-to-month and 5.9 percent year-over-year in June 2015, rising to 108. Despite recent gains, the 1,381 foreclosures reported in the past 12 months remain down 29.6 percent from the prior year.

  • In June 2015, the median price of a resale home increased 13.8 percent year-over-year to $190,000. Median resale prices have increased 90.0 percent compared to the low of $100,000 reported in January 2012. In addition, the number of units listed in the Multiple Listing Service has remained at reasonable levels, holding at less than three months of effective availability for four consecutive months.

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July 2015

  • The City of Las Vegas (the “City”) reported 214 foreclosure starts in May 2015. Compared to the prior month, notices of default fell 17.7 percent; however, they increased 14.4 percent from a year ago. For the 12 months ending May 2015, there were 2,973 foreclosure starts in the City, up 4.6 percent from the prior 12-month period and representing a notice of default rate of 16 per 1,000 housing units. This was slightly higher than the county-wide rate of 15 per 1,000 units.

  • Trustee deeds (foreclosures) in the City fell 7.1 percent month-to-month in May 2015 to 105, but they increased 1.9 percent year-over-year. There were 1,375 foreclosures for the 12 months ending May 2015, which was down 31.0 percent from the prior year and represented a foreclosure rate of 7 per 1,000 housing units. This was comparable to the county-wide foreclosure rate reported during the same period.

  • In May 2015, there were 2,752 single-family resale home closings in southern Nevada, which represented a 2.6-percent decline from the prior year. The median resale price increased 8.3 percent year-over-year to $211,250.

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June 2015

  • The City of Las Vegas (the “City”) reported 260 foreclosure starts in April 2015, which represented a decline of 19.5 percent from the 323 notices of default reported in March 2015. However, compared to a year ago, foreclosure starts increased 52.0 percent from 171. In the past 12 months, there have been 2,946 notices of default reported in the City, down 6.7 percent from the prior year.

  • Foreclosures in the City fell 8.1 percent month-to-month in April 2015, from 123 to 113. Compared to a year ago, foreclosures declined an even more substantial 32.3 percent from 167. For the 12 months ending April 2015, there were 1,373 foreclosures in the City of Las Vegas, down 32.8 percent from the prior 12-month period.

  • In April 2015, there were 2,753 single-family resale home closings, up 5.3 percent compared to a year ago. In addition, the median resale home price reported a dramatic year-over-year gain, rising 10.7 percent to $212,568.

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May 2015

  • The City of Las Vegas (the “City”) reported 323 foreclosure starts in March 2015, which represents an increase of 34.0 percent compared to February 2015 and is more than double the 160 foreclosure starts reported the same month one year ago. There have been 2,857 foreclosure starts reported in the past 12 months, which is down 18.6 percent compared to the prior 12-month period.

  • Trustee deeds (foreclosures) in the City increased 33.7 percent month-to-month to 123 in March 2015. However, compared to a year ago, foreclosures declined 38.2 percent from 199. In the past 12 months, there have been 1,427 foreclosures in the City, representing an annual decline of 29.7 percent.

  • In March 2015, the median resale home price was $205,000. While flat from the prior month, median prices increased 5.1 percent from a year ago. Effective levels of availability fell to 2.7 months, down from 3.7 months in February 2015.

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April 2015

  • Foreclosure starts in the City of Las Vegas (the “City”) reported a month-to-month decline of 8.7 percent in February 2015, falling to 241. However, they increased 48.8 percent compared to the 162 notices of default reported in the same month of 2014. In the past 12 months, there have been 2,694 foreclosure starts in the City, which represents a 30.1-percent decline from the prior year period.

  • In February 2015, there were 92 trustee deeds (foreclosures) in the City, which represents a month-to-month decline of 16.4 percent and a year-over-year decline of 43.6 percent. In the past 12 months, the City has reported 1,503 foreclosures, down 24.5 percent from the prior 12-month period.

  • Wards 3 and 5 were the only two wards to report month-to-month gains in foreclosures in February 2015, rising 6.7 percent and 5.9 percent, respectively. However, both wards witnessed monthly declines in notices of default, falling 10.0 percent and 26.2 percent, respectively.

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March 2015

  • In the first month of 2015, foreclosure starts in the City of Las Vegas (the “City”) climbed 33.3 percent month-to-month to 264, while they are more than double the 112 notices of default reported a year ago. However, in the past 12 months, there have been 2,615 foreclosure starts, which represents a decline of 36.9 percent compared to the prior year period.

  • The City reported 110 trustee deeds (foreclosures) in January 2015, down 5.2 percent from the prior month and down 38.5 percent from a year ago. For the 12 months ending January 2015, forclosures fell 20.9 percent annually to 1,574.

  • For the 12 months ending January 2015, the City reported a default notice rate of 14 per 1,000 housing units, with Wards 1 and 5 reporting the highest rate of 16 per 1,000 units. During the same period, the foreclosure rate for the City was 8 per 1,000 housing units, with Ward 1 witnessing the highest rate of 11 per 1,000 units.

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February 2015

  • In December 2014, foreclosure starts in the City of Las Vegas (the “City”) remained flat compared to November at 198, but they were more than double the 95 reported in December 2013. For the year, foreclosure starts in the City totaled 2,463, which represents a decline of 46.2 percent compared to 2013.

  • The City reported 116 trustee deeds (foreclosures) in December 2014, which is up 4.5 percent from the prior month and down 12.1 percent from the prior year. In 2014, there were 1,643 foreclosures in the City, which is down 18.1 percent from 2013.

  • In 2014, each ward reported a decline in foreclosure starts when compared to 2013, with Ward 2 and Ward 6 witnessing the most substantial declines of 53.7 percent and 51.1 percent, respectively. In terms of foreclosures, Ward 6 reported the greatest annual decline of 27.7 percent. Gains were reported by Ward 1 and Ward 3, which witnessed modest increases of 0.7 percent and 1.4 percent, respectively.

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January 2015

  • The City of Las Vegas (the “City”) reported 198 notices of default in November 2014. The latest period represents a decline of 14.3 percent compared to October 2014; however, foreclosure starts have increased 86.8 percent from a year ago. In the past 12 months, 2,360 notices of default were reported by the City, down 52.2 percent from the prior 12-month period.

  • Trustee deeds (foreclosures) in the City totaled 111 in November, which represents a month-to-month decline of 5.9 percent and a year-over-year decline of 9.8 percent. In the past 12 months, there have been 1,659 foreclosures, which is down 18.8 percent from the prior year.

  • In November 2014, new home prices increased 0.6 percent year-over-year to $295,480, while existing home prices increased 10.0 percent to $176,000.

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December 2014

  • In October 2014, there were 231 foreclosure starts in the City of Las Vegas (the “City”). Compared to the prior month, notices of default declined 20.1 percent; however, they are more than double the 103 reported in October of 2013. In the past 12 months, there have been 2,268 notices of default in the City, which is down 56.4 percent from the prior 12-month period.

  • Trustee deeds (foreclosures) in the City fell 9.2 percent month-to-month to 118 in October, while they are down an even more substantial 48.5 percent from a year ago. In the past 12 months, there have been 1,671 foreclosures in the City, down 19.3 percent from the prior year period.

  • In October, new home prices fell 0.6 percent year-over-year to $287,912. Meanwhile, existing home prices increased 7.9 percent annually to $170,000.

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November 2014

  • In September of 2014, the City of Las Vegas (the “City”) reported 289 foreclosure starts, which represents an increase of 25.7 percent from August 2014 and a decline of nearly 75 percent compared to a year ago. In the past 12 months, notices of default in the City have declined 61.4 percent compared to the prior 12-month period, falling to 2,140.

  • Trustee deeds (foreclosures) in the City increased 19.3 percent month-to-month in September, rising from 109 to 130. However, they declined 34.7 percent compared to a year ago. In the past 12 months, there have been 1,782 foreclosures in the City, which represents a decline of 13.2 percent from the prior 12-month period.

  • The City of Las Vegas reported a foreclosure start rate of 11 per 1,000 housing units in the past 12 months. The rate was tied with Unincorporated Clark County for the second-highest among local jurisdictions. The City of North Las Vegas reported the highest rate of 14 per 1,000 units. The City of Las Vegas also had the second-highest foreclosure rate among local jurisdictions with 10 per 1,000 units. The City of North Las Vegas was first with 11 per 1,000 units.

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October 2014

  • After reporting a substantial increase in July 2014, foreclosure starts in the City of Las Vegas (the “City”) declined 27.9 percent month-to-month in August 2014, falling to 230. Compared to a year ago, notices of default remain down 40.4 percent. In the past 12 months, there have been 2,988 foreclosures starts reported in the City, down 35.5 percent from the prior 12-month period.

  • Trustee deeds (foreclosures) in the City also witnessed a decline in August, falling 25.3 percent month-to-month to 109. Compared to the 147 trustee deeds reported a year ago, foreclosures have declined 25.9 percent. In the past 12 months, there have been 1,851 foreclosures in the City, down 8.7 percent from the prior year.

  • In August, each ward reported monthly declines in foreclosure starts, with Ward 3 witnessing the most substantial decline of 52.0 percent. In terms of foreclosures, Ward 6 was the only ward to report an increase during the month, rising 10.7 percent.

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September 2014

  • The City of Las Vegas (the “City”) reported a substantial gain in foreclosure starts in July 2014, rising 54.9 percent compared to June 2014 to 319. During the month, notices of default in the City were nearly double the 167 reported in the same month one year ago. In the past 12 months, there have been 3,144 foreclosure starts in the City, down 33.2 percent from the prior year period.

  • Trustee deeds (foreclosures) in the City increased 43.1 percent month-to-month to 146 in July; however, they remain down 33.6 percent from the prior year. In the past 12 months, there have been 1,889 foreclosures in the City of Las Vegas, which is down 9.8 percent from the prior 12-month period.

  • For the 12 months ending July, the City of Las Vegas reported a foreclosure start rate of 17 per 1,000 housing units. Ward 6 reported the highest rate of 20 per 1,000 units, followed by Wards 1 and 5 with 18 per 1,000 units. Meanwhile, the foreclosure rate in the City was 10 per 1,000 housing units, with Ward 5 reporting the highest rate of 13 per 1,000 units.

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August 2014

  • The City of Las Vegas (the “City”) reported 206 notices of default in June 2014, which is up 10.2 percent from May 2014 and nearly four times the 56 foreclosure starts reported in the same month a year ago. In the past 12 months, there have been 2,992 notices of default in the City, down 38.3 percent from the prior 12-month period.

  • Trustee deeds (foreclosures) in the City remained relatively flat in June 2014 when compared to the prior month with a reported total of 102. Compared to a year ago, foreclosures are down 22.1 percent. In the past 12 months, the City of Las Vegas has reported 1,963 foreclosures, which is down 6.1 percent from the prior 12-month period.

  • Home prices continue to report gains; however, annual growth has been slowing in recent months. In June 2014 (latest available data), new home prices increased 8.7 percent year-over-year to $290,000. Existing home prices were $167,000, which is up 10.6 percent from June 2013.

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July 2014

  • Foreclosure starts in the City of Las Vegas (the “City”) increased for the second consecutive month in May 2014, rising 9.4 percent from April 2014 to 187. However, notices of default have now reported annual declines for eight consecutive months, falling 62.7 percent year-over-year in May.

  • Trustee deeds (foreclosures) in the City declined for the second consecutive month, falling 38.3 percent to 103. In the past 12 months, there have been 1,992 foreclosures in the City of Las Vegas, which represents a decline of 9.5 percent compared to the prior 12-month period.

  • Ward 3 was the only ward to report a month-to-month decline in foreclosure starts in May, falling 34.8 percent from 23 to 15. The ward has reported 321 notices of default in the past 12 months, which is down 34.6 percent from the prior 12-month period.

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June 2014

  • Foreclosure starts in the City of Las Vegas (the “City”) totaled 171 in April of 2014, which is up 6.9 percent from the prior month. Wards 2 and 3 reported the most substantial gains in notices of default during the period, rising 27.8 percent and 21.1 percent, respectively. Ward 6 was the only ward to witness a month-to-month decline, falling 7.4 percent.

  • Trustee deeds (foreclosures) declined 16.1 percent in April 2014, falling from 199 to 167. However, compared to a year ago, they remain up 8.4 percent. In the past 12 months, there have been 2,043 foreclosures in the City, which is down 9.9 percent from the prior 12-month period.

  • Home prices continue to report annual gains; however, growth has slowed in recent months. In April, the median price of a new home was $285,089, up 19.7 percent from the same month in 2013. Existing home prices increased 14.6 percent year-over-year, rising to $164,454 in the latest period.

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May 2014

  • Notices of default in the City of Las Vegas (the “City”) reported little change in the latest period, falling from 162 in February 2014 to 160 in March 2014. Compared to a year ago, foreclosure starts have fallen 68.2 percent from 503.

  • Trustee deeds (foreclosures) in the City reported a 22.1-percent month-to-month increase in March, rising to 199. In the past year, there have been 2,030 foreclosures in the City of Las Vegas, which is down 15.0 percent from the prior 12-month period.

  • The City of Las Vegas reported a notice of default rate of 19 per 1,000 housing units during the latest 12-month period. Among local jurisdictions, Las Vegas ranked second behind the City of North Las Vegas, which reported a rate of 24 per 1,000 units. Las Vegas also had the second-highest foreclosure rate with 11 per 1,000 housing units, while North Las Vegas was first with 13 per 1,000 units.

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April 2014

  • The City of Las Vegas (the “City”) reported 162 notices of default in February 2014. While notices increased 44.6 percent from January 2014, they remain relatively low and are down 64.3 percent compared to February 2013. In the past 12 months, there have been 3,854 notices of default filed in the City, which is down 4.2 percent from the prior 12-month period.

  • Trustee deeds (foreclosures) in the City of Las Vegas fell 8.9 percent month-to-month in February 2014 to 163 but remain up 1.2 percent from a year ago. In the past year, the City has reported 1,991 foreclosures, which is down 22.4 percent from the prior year period.

  • Wards 2 and 3 reported the largest percentage gains in notices of default in February 2014 when compared to January 2014, rising to 20 and 17, respectively. Ward 6 was the only ward to report a monthly decline in notices of default, falling 13.2 percent to 33. Meanwhile, Wards 3 and 5 were the only two wards to report month-to-month increases in foreclosures, rising 38.9 percent and 19.0 percent, respectively.

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March 2014

  • Foreclosure starts in the City of Las Vegas (the “City”) increased slightly from December 2013 to January 2014 as notices of default rose from 95 to 112. However, foreclosure starts remain well below the 544 reported in January 2013.

  • Trustee deeds (foreclosures) increased 35.6 percent month-to-month in January 2014 to 179 as banks work through the wave of foreclosures initiated before the implementation of the Homeowner’s Bill of Rights. For the past 12 months, the City’s foreclosure rate of 11 per 1,000 housing units remains slightly above the county-wide average of 10 per 1,000 housing units.

  • New and exisiting home closings reported annual declines in January 2014, falling 21.7 percent and 10.9 percent, respectively. However, despite the recent decline in home closings, prices remain significantly higher than a year ago. In January, new home prices increased 38.5 percent year-over-year to $305,125, while resale prices rose 21.9 percent to $158,500.

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January 2014


  • Notices of default in the City of Las Vegas (the "City") remained relatively flat in November 2013, ending the month at 106 (compared to 103 in October). The latest trend continues to reflect recent regulations, which went into effect in the beginning of October.

  • Trustee deeds (foreclosures) in the City declined 46.3 percent month-to-month and 19.1 percent year-over-year to 123 in November. In the past 12 months, there have been 2,042 foreclosures in the City of Las Vegas, which is down 42.3 percent from the prior 12-month period.

  • Housing prices are continuing to be affected by recent market dynamics. In November, the new home median price increased 34.1 percent year-over-year to $293,738, while the existing home median price rose 28.0 percent to $160,000. New home prices have now reported annual gains for 14 consecutive months, while existing home prices have been up for 20 months.

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Retained to prepare a comprehensive analysis of residential foreclosure activity in southern Nevada. The monthly study focuses on notices of defaults, notices of sales, trustee deeds (foreclosures), REO sales, bank-owned inventory and regional ranking data. The analysis is segmented by jurisdiction and ward.

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