WASHINGTON — Residential real estate prices dropped more than forecast during the year ended Sept. 30, showing the industry at the center of the 2008 financial crisis continues to struggle.
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BOSTON — U.S. lenders started foreclosures on more properties in the third quarter, the first increase in a year, as a backlog stemming from claims of faulty home seizures began to ease.
With two months remaining in the year, it looks like 2011 could be the worst year on record for new-home sales in Las Vegas, the latest figures from Home Builders Research show.
Positively identified as the nation’s foreclosure capital, Las Vegas has lost more than 100,000 homes to the bank since January 2007, roughly 18 percent of the valley’s privately owned housing stock, housing analyst Larry Murphy of Las Vegas-based SalesTraq reported.