Report: Nevada Still Leads Nation in Underwater Homes - 8 News NOW

Report: Nevada Still Leads Nation in Underwater Homes

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LAS VEGAS -- Nevada still leads the nation with the highest percentage of mortgaged homes underwater but witnessed improvement from a year ago, a new CoreLogic report shows.

The real estate and financial analytics company from Irvine, Calif., reported that 30.4 percent of the state's 541,000 mortgaged residential properties were still worth less than the value of their loans as of the fourth quarter of 2013. That compared with 13.3 percent nationally.

Nevada showed improvement from the same quarter in 2012, when 52.4 percent of mortgaged residences in the state had negative equity.

But Nevada, along with Arizona, Florida, Illinois and Ohio, still accounted for 36.9 percent of the underwater residences nationwide as of the final three months of last year.

CoreLogic reported that the average mortgaged home in the country had an outstanding loan that averaged 61.8 percent of the value of the residence. But Nevada's average loan equated to 79.4 percent of the value of the home, highest in the nation.

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