If Nevada has been topping the list of US states with the highest foreclosure rates in 2008, it is not surprising that its largest city, Las Vegas, tops the list of US cities with the highest number of foreclosed homes. Data released by property tracking firm RealtyTrac show that the volume of Las Vegas foreclosure listings was the biggest in the US in October 2008. The city has topped 229 other metropolitan centers across the country.

There were about 12,200 foreclosure filings in Las Vegas in the period, up 6% from September and a great 104% jump from October 2007. There was a home foreclosed in the city for every 62 houses. That is up to seven times greater than the national average of a home in every 452 houses. It is very clear that there is a robust growth in the number of Las Vegas foreclosure listings.

Las Vegas foreclosure homes are logically consisting the most of overall foreclosed homes in Nevada. For the same period, the state topped the list of states with the highest foreclosures, for the 22nd month in a row. In the entire Nevada, there is a home under foreclosure in every 74 houses, more than six times greater than the national average. There were 14,500 homes foreclosed in the whole of Nevada in the month.

Logically, the market for Las Vegas foreclosure homes is continuously growing. As the economic slump and the housing downturn further expand, it is expected that more households will undergo foreclosure in the city and in the entire state of Nevada. Strategic homebuyers are set for a longer purchase spree.