Although Las Vegas is still in the lead with upside-down borrowers in comparison to other major metro areas, numbers have improved greatly for Southern Nevada over the past two years. Rising property values have helped many local homeowners escape their negative equity, as shown by the latest numbers.
According to a new report from Zillow, almost 34 percent of local homeowners with mortgages were underwater in the first quarter of this year. This number dropped from 48 percent a year earlier, and from a peak of 71 percent two years ago.
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