Lately, there's been more talk—and more headlines—about foreclosures here in Las Vegas. And while the word alone can cause unease, the bigger picture tells a more nuanced story, especially if you’re a homeowner or thinking of making a move.
Let’s break down what’s really happening—and what it means for you.
The Reality: Foreclosures Are Ticking Up
According to recent data from 8 News Now and national sources like ATTOM Data, Las Vegas currently has one of the highest foreclosure rates among major cities. In fact:
Las Vegas ranks fourth in the U.S. for metro areas over 200,000 people in terms of foreclosure filings.
We’re #1 among large cities with over a million residents, with just under 1 in every 1,800 homes currently in foreclosure.
Within Clark County, nearly 2,300 homeowners received a Notice of Default over the past year—officially starting the foreclosure process.
What’s Causing This?
This isn’t about a housing crash or wild market swings. It’s about a lagging ripple effect from pandemic-era programs:
After the government placed a moratorium on foreclosures, many homeowners entered forbearance agreements, pausing mortgage payments temporarily.
When those ended, some borrowers were left with large balloon payments or simply couldn’t catch up.
Rising living costs, job shifts, and inflation have also added pressure for some households, especially if they had limited equity or investment property tenants fall behind.
What This Doesn’t Mean
This doesn’t mean the Las Vegas market is collapsing. Far from it. Inventory remains tight, prices are holding steady, and demand for homes—especially well-located and move-in ready ones—is still strong.
This moment is about adjustment, not alarm. We’re returning to a more normal market cycle after years of extremes. And yes, that includes a small increase in distressed properties, which is something to be aware of—not afraid of.
What To Do If You’re a Homeowner
If you or someone you know is falling behind on payments, there are still options:
Loan modifications
Equity sales (many homeowners still have significant equity even if they're behind)
Nonprofit resources, like the team at Prolific Home Solutions, are stepping up with free support and guidance.
The biggest mistake? Ignoring the situation. The earlier you act, the more choices you’ll have.
For Buyers: Is This an Opportunity?
Possibly. But don’t expect a wave of deals like in 2008. These are isolated situations, not a systemic crash. Still, distressed properties or motivated sellers can offer unique chances to buy below market—especially if you're working with a local expert who knows where to look.
Let’s Talk Strategy
Whether you’re worried about your own home, or looking to buy smart in this market, I’m here to help you navigate the options—rationally and strategically.
The market is shifting. But with the right insight, you don’t have to be caught off guard.
Book a call with me at JenniferGraffRealtor.com or DM me on Instagram @thenewhomeexpertslv