Las Vegas Still has Most Number of Underwater Homes

Luxury home

Las Vegas is still leading the nation in terms of underwater residential properties. According to a report from RealtyTrac, 37 percent of homes in Las Vegas had mortgages that were at least 25 percent higher than the properties estimated value.

Statewide, 34 percent of mortgaged homes also experienced the same which is twice the national average of 17 percent.

In addition, there are 212,229 homes in Las Vegas that were underwater from January to March. Statewide, there were 261,272 residential properties that have experienced the same fate.

Nationally, there were 9.1 million residential properties that are experiencing negative equity. However, this is the lowest number in the last two years.

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