Analyst forecasts fewer Las Vegas foreclosures

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LAS VEGAS IS MAKING PROGRESS BUT NOT YET FINISHED
The statistics are stacked against Las Vegas: highest foreclosure rate in the nation, 80 percent of homeowners “underwater” on their mortgage, half of homes with 25 percent or more negative equity, 16 percent of homeowners delinquent on their mortgage, 13.8 percent unemployment states the Las Vegas Review Journal.

The news coming from local outlets shows how the market is suffering from fits and starts. Housing Wire. On the otherhand, he’s revising his foreclosure predictions downward.

“We had 25,000 last year, and I said we’d probably have the same amount this year,” Murphy said at his quarterly Crystal Ball presentation at the Suncoast. “We probably won’t see 25,000. We probably won’t see 20,000. We might only see 15,000 foreclosures in 2010.”

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