Nevada Leads Nation in Foreclosure Sales - 8 News NOW

Nevada Leads Nation in Foreclosure Sales

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LAS VEGAS -- Foreclosed homes made up a higher percentage of residential sales in Nevada from July through September than in any other state, reported Wednesday night.

The real estate analytics website found that 57 percent of the state's home sales during the third quarter of 2011 involved foreclosed properties, nearly triple the 20.4 percent average nationwide. During the quarter 13,992 foreclosed homes were sold in the state, slightly more than the 13,858 sold in the second quarter but 24 percent higher than in the third quarter of 2010.

The average foreclosure sales price in Nevada in the third quarter was $116,101, 23.7 percent below the average sales price of homes that weren't in foreclosure. Nationally foreclosed homes carried average sales prices of $165,322, which was 34 percent below non-foreclosure properties.

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