Increase In Foreclosures Reported In The First Quarter

James J. Saccacio, chief executive officer of RealtyTrac has published a report that shows that Las Vegas real estate foreclosures were up 17% in June compared to June of 2005. However there was significant decreasing in the rates in the beginning of 2006.

According to Saccacio, new foreclosures dropped to their lowest level of the year in June despite some of the sensational and misleading figures that we’ve seen reported recently.

Las Vegas real estate is in the top 5 of highest foreclosures in the United States. However if rates continue to drop that could all change.