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Foreclosures Rise In First Half Of 2007

Web Site Claims Foreclosures Will Continue To Rise

POSTED: 5:22 pm PDT August 13, 2007
UPDATED: 11:05 pm PDT August 13, 2007

According to foreclosure.com, the number of active foreclosures for the Las Vegas area has increased by 69 percent from the first quarter of 2007 to the second quarter.

Foreclosure data covers all foreclosures within Clark County, including unincorporated Clark County and rural areas surrounding the Valley.

Both new and active foreclosure numbers valley-wide have been on the rise since the first quarter of 2006. The number of new foreclosures in the second quarter of 2007 increased by 87 percent when compared to the previous quarter and was almost nine times higher than the 353 new foreclosures reported during the same quarter in 2006.

Similar trends are noted across all jurisdictions, with unincorporated Clark County reporting both the greatest number of new foreclosures and the greatest number of active foreclosures, representing an increase of 88 and 73 percent, respectively.

The city is second on the list for new and active foreclosures in terms of volume.

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