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Foreclosure activity rises 2% in 2010

Las Vegas is No. 1 hot spot: foreclosure filings for 1 in 9 properties

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The number of U.S. properties with foreclosure-related filings rose about 1.7 percent in 2010, to an estimated 2.87 million -- approximately one in every 45 households, or 2.2 percent of all U.S. housing units, foreclosure data company RealtyTrac reported today. The Las Vegas metro area, despite a 7 percent drop in foreclosure filings activity in 2010, still was ranked as the No. 1 foreclosure hotspot, with 1 in 9 housing units there receiving a foreclosure filing in 2010. RealtyTrac's report found that foreclosure activity increased in 2010 in 149 of the nation's 206 metro areas with a population of at least 200,000, while all 10 metro areas with the highest foreclosure rates in 2010 experienced an annual decline in foreclosure-filings activity. James J. Saccacio, RealtyTrac CEO, said in a statement, "foreclosure levels remained five to 10 times higher than historic norms in most of those hard-hit markets, where deep faultlines of risk remain and could potentially tr...