Mortgage defaults are climbing in specific areas of Las Vegas Valley, continuing a troubling trend that began in 2022.

Las Vegas

Mortgage defaults in the Las Vegas Valley have continued to rise, with the highest rates reported in specific zip codes on the east and west sides of the city. Nearly a quarter of all mortgage defaults since early 2022 have occurred in the first half of this year, and notices of default are up 28% from the previous year. Economic pressures such as high costs of goods and potential labor market instability are contributing factors.

Conversely, the average rent for apartments in Clark County has decreased by about 4.2% since its peak in 2022, now averaging $1,477. This decline is attributed to a significant increase in new apartment construction over the past four years, leading to higher vacancy rates and more rental incentives. However, experts caution that if construction slows and interest rates remain elevated, rents could rise again.

Mortgage defaults rise in Las Vegas Valley while rent prices drop

Now we're getting a sense of the current housing market here in our valley, and just how many locals are struggling to keep a roof over their heads. This map behind me shows the areas where mortgage defaults are climbing and this isn't new. It's an issue I've been reporting on since 2022. Every year, the numbers have gone up. So I went back to Sean McCoy, the executive director of the lead center for real estate at UNLV to see why right now, he says the highest numbers of troubled mortgages are coming from zip codes 89 1 to 1. As you see over there in that east side of town and also at 89108, which is closer to that historic west side of this map as well. Now, a mortgage default happens when a homeowner stops making their mortgage payments. McCoy tells me nearly a quarter of all mortgage defaults since January of 2022 have occurred just in the first half of this year. Notices of default are also up 28% from last year. And in fact, we set a record this past march with 235 in a single month. When goods and services cost a lot of money, there's less money to help pay down that mortgage and that can again put homeowners in a delicate situation to make their monthly mortgage payment. And on the labor market side, if there's potential softening in wages or softening in the in the ability to keep and retain a job may put a homeowner on a veritable knife's edge. Now there is some good news though. We know that many of you are renters and your express concerns over rising rent prices in southern Nevada. But take a look at this. The average monthly cost for an apartment here in Clark County is down about 4.2% since it peaked back in 2022. Sean says that average rent across southern Nevada is now $1477 and the trend is being driven by a wave of new apartments that have been built over the past four years. What's the biggest takeaway that you have from your recent report about Clark County southern Nevada rents overall big takeaway and in many ways really good news for many renters. Rents in southern Nevada are coming down past four years. A lot of new supply came onto the market and with that new supply, we're starting to see increases in the vacancy rate across southern Nevada. And along with that, we're seeing the average rent of the average unit coming down quite significant. Now McCoy says many landlords are offering moving specials and discounts but warns falling rents could reverse if construction slows and interest rates stay high.

U.S. President Donald Trump said he would ask the Republican-controlled Congress to extend federal control of Washington's city police force beyond 30 days, escalating his campaign to exert presidential power over the nation's capital.

Washington

Trump wants to extend federal control over Washington police

With just hours left to reach a deal on plastics, negotiators in Geneva were scrambling to resolve a deadlock caused by “red lines” of member countries. Nations are crafting the first global, legally binding treaty on plastics pollution at the United Nations office in Switzerland.

Geneva

Global plastics treaty talks in Geneva stall as deadline looms

At least 123 people have been killed in 24 hours, according to Gaza's Health Ministry. Israeli Prime Minister Benjamin Netanyahu says people will be given the opportunity to leave Gaza before a planned ground offensive, but no one is being pushed out.

Jerusalem

Middle East Conflict

Israeli strikes pound Gaza ahead of planned ground offensive

America's NATO allies stood firmly with Ukrainian President Volodymyr Zelenskyy ahead of the face-to-face meeting between President Trump and Russian President Vladimir Putin in Alaska. The European leaders showed a united front that there should be no peace deal without Ukraine's involvement.

Kyiv

Ukraine Invasion

NATO allies stand with Ukraine ahead of Trump-Putin summit

U.S. Immigration and Customs Enforcement must improve conditions for detainees at New York's 26 Federal Plaza, a judge ruled Tuesday.

New York

Judge rules ICE must improve conditions for detainees at NY facility

National Guard troops arrived in Washington, D.C., following President Donald Trump's deployment and federalization of local police to crack down on crime in the nation's capital.

National Guard troops arrive in Washington, D.C.

U.S. President Donald Trump said that he had a "very good call" with Ukrainian President Volodymyr Zelenskyy, days before his scheduled Alaska meeting with Russian President Vladimir Putin.

Trump had 'very good call' with Zelenskyy ahead of Putin meeting

Israel's military chief of staff, Lt. Gen. Eyal Zamir, has approved the framework of a plan for a new offensive in Gaza. CBS News Middle East reporter Courtney Kealy has more details.

Israeli military chief approves 'framework' for new Gaza offensive

President Donald Trump said Wednesday there will be “very severe consequences” if Russian President Vladimir Putin doesn’t agree to stop the Ukraine war after Friday’s summit.

Trump warns of 'severe consequences' if Russia doesn't stop war

A Wisconsin woman on Tuesday was found guilty in the United Kingdom of trying to kill a man at point-blank range in 2019. Aimee Betro, 45, was part of a plot with two other co-conspirators to murder Sikander Ali, prosecutors said.

Birmingham

American woman found guilty of UK murder-for-hire plot

Record-high temperatures across Europe are fanning wildfires across the continent. Experts say a warming climate and an increase in flammable vegetation from rural depopulation are major factors.

Madrid

Historic heat fuels fires across Europe

Hungary's PM Viktor Orbán said the EU attempts to set conditions for a meeting to which leaders of the EU were not invited. He also called for an EU-Russia summit.

Brussels

EU leaders rally behind Ukraine ahead of Trump-Putin talks

President Trump said Monday he expects that Russia and Ukraine will "land swap" certain territories as part of an eventual ceasefire deal. Mr. Trump is set to meet with Russian President Vladimir Putin in Alaska on Friday.

Trump claims 'land swapping' between Russia, Ukraine will happen

Taylor Swift confirmed her 12th studio album, "The Life of a Showgirl," in a teaser for her upcoming appearance on her boyfriend Travis Kelce's podcast. Swift did not disclose the release date of the album.

Taylor Swift announces new album, 'The Life of a Showgirl'

U.S. President Donald Trump said that his planned meeting with Russian President Vladimir Putin in Alaska on Friday will be to "feel out" the leader as pressure mounts for Russia and Ukraine to make a peace deal.

Trump to meet with Putin in Alaska on Friday

A meeting between US President Donald Trump and Russian President Vladimir Putin is set to take place in Alaska, with European leaders notably excluded from the talks. Until Europe can defend itself, it's not likely to be invited to a great power dialogue, experts have told Euronews.

Alaska

Europe frozen out as U.S. and Russia prepare for Alaska talks

U.S. President Donald Trump said on Monday that Kyiv and Moscow will both have to cede land to end the war in Ukraine and talks with Russian President Vladimir Putin this week will instantly show whether the Kremlin leader is willing to make a deal.

Trump says both sides in Ukraine war will need to cede territory

A prominent Al Jazeera journalist, who had previously been threatened by Israel, was killed along with four colleagues and another journalist in an Israeli airstrike in an attack condemned by journalists and rights groups.

Israeli strike kills Al Jazeera journalists in Gaza

At last one person is dead, dozens are injured and two people are unaccounted for after an explosion at the U.S. Steel Clairton plant in Pennsylvania on Monday.

Clairton

At least 1 dead, dozens injured in U.S. Steel plant explosion

President Donald Trump has placed the Metropolitan Police Department under federal control and announced he's activating the National Guard to combat crime in Washington, D.C.

Trump deploying National Guard to Washington, D.C.

Ukrainian President Volodymyr Zelenskyy is thanking European leaders for backing his push to join this week's Trump-Putin summit in Alaska, insisting an end to the war must be fair.

Trump and Putin set to meet on Friday without Zelenskyy

U.S. President Donald Trump and Russian President Vladimir Putin are scheduled to meet in Alaska on Friday to discuss ending the war in Ukraine. Kyiv and its allies fear being sidelined and worry any deal could reward Moscow’s occupation of Ukrainian territory.

Ukraine fights for a seat at the table ahead of Trump-Putin summit

Israeli Prime Minister Benjamin Netanyahu is defending his decision to keep fighting in Gaza, despite protests at home and abroad. Debora Patta has the latest.

Tel Aviv-Yafo

Netanyahu defends plan to expand war in Gaza

Ukrainian President Volodymyr Zelenskyy is thanking European leaders for backing his push to join this week's Trump-Putin summit in Alaska, insisting an end to the war must be fair. Willie James Inman has more from the White House.

Anchorage

Countdown begins to Trump-Putin meeting, without Zelenskyy

Violent weather hit several Midwest states over the weekend, with high winds being blamed for the death of at least one person in Nebraska and flash flooding prompting a state of emergency in Milwaukee County, Wisconsin.

Milwaukee

Milwaukee inundated with floodwaters, one dead in Nebraska

Thirty-seven major wildfires are currently burning across nine states in the western United States. Firefighters have made significant progress on the Canyon Fire in California, achieving 62% containment and allowing over 4,000 residents to return home, with minimal property loss reported.

Major fires continue to burn across western U.S.

President Donald Trump's envoy met with the Qatari prime minister on Saturday in Spain to discuss possible deals to end the Israel-Hamas war in Gaza, as Israel's military plans to expand into Gaza City. Meanwhile, families of Israeli hostages and Palestinians alike are pleading for peace.

Families of Israeli hostages, Palestinians plead for ceasefire

Renewed anti-government protests have taken place in Israel, where relatives and supporters of Israeli hostages held by Hamas demanded their release and an end to the brutal war Israel has been waging in Gaza.

Israeli anti-government protesters take to the streets in Tel Aviv

Ukraine's President Volodymyr Zelenskiy said that Kyiv "values and fully supports" a joint statement by European leaders that welcomed U.S. President Donald Trump's efforts to try to end the war, while emphasizing the need to pressure Russia and provide security guarantees for Kyiv.

Breakdown