Foreclosures plagued the real estate market during the Great Recession. Home prices plunged so much in some areas that people lost all their home equity and even faced situations in which the value of their mortgages was higher than the value of their homes. Los Angeles, Phoenix and Las Vegas were hit particularly hard.

What a difference a decade makes. Home prices have soared in the past year. The carefully followed S&P Case Shiller home price index showed home prices rose nearly 20% year over year nationwide recently. In some markets, the figure was closer to 30%. Other research shows that, in some cities, the rise has been even more substantial.

To continue reading the rest of the article, please click on the source link below:

https://247wallst.com/housing/2021/10/26/nevada-is-the-state-with-the-most-foreclosures/