KATV Channel 7 - The Spirit of Arkansas: Number of foreclosures declines

Foreclosures are on the decline in major U.S. cities.

The latest report from RealtyTrac says 84-percent of U-S metro areas saw a decrease in the number of foreclosures for the first half of the year.

Unfortunately, that doesn't mean the housing market is on the mend.

The report says the decline suggests there's a clog in the default loan processing pipeline... or banks are having a hard time selling already-foreclosed properties.

Las Vegas has the highest rate of foreclosures, with one in every 19 homes delinquent during the first half of this year.