Number of Nevada short sales up 86 percent in 2012

Number of Nevada short sales up 86 percent in 2012; state posts highest gain in country

Associated Press

LAS VEGAS (AP) -- The number of short sales in Nevada has jumped 86 percent in a year, while the number of foreclosures has dropped significantly.

A report released Thursday by RealtyTrac shows there were nearly 35,000 foreclosure sales in 2012, which is down 36 percent from a year before. Foreclosure sales accounted for nearly 38 percent of all home sales in 2012, down from a peak of 60 percent in 2010.

Meanwhile, short sales are gaining steam in Nevada faster than in any other state. They accounted for 33 percent of all Nevada home sales in 2012.

RealtyTrac reports that foreclosures and short sales combined accounted for 43 percent of all home sales in the country last year.

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