Tags: Nevada Housing

Nevada's Boom Ends in Record Number of Empty Homes

Tuesday, 15 Mar 2011 06:59 AM

LAS VEGAS — Nevada's building boom over the last decade has ended in a record number of empty homes.

Newly released Census data shows 167,564 empty houses in the state last year, more than double the number in 2000. In all, the number of vacant homes represents about one out of every seven houses across Nevada.

The data suggests the housing crash forced many Nevadans from their homes. More than 16 percent of Nevadans relocated to other residences within the state in 2008 alone, the highest mobility rate in the nation.

The state also had the highest foreclosure rate in the country in January, and delinquent mortgages are on the rise. The jobless rate is 14.2 percent, and the state's estimated budget gap starts at $1.5 billion.

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