RealtyTrac: Nevada Foreclosure Rate Tops U.S. Again - 8 News NOW

RealtyTrac: Nevada Foreclosure Rate Tops U.S. Again

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LAS VEGAS -- April marked the second consecutive month that Nevada had the nation's highest foreclosure rate even though foreclosures statewide remained down from a year ago, reported Wednesday night.

The real estate analytics company based in Irvine, Calif., reported that one of every 360 Nevada housing units received a foreclosure filing in April, more than twice the national rate of one in 905 units. Foreclosure filings include notices of default, notices of pending trustee sales and repossessions by lenders.

Among U.S. metropolitan areas, Las Vegas had the fifth highest foreclosure rate with one filing for every 302 housing units. Among metro areas with at least 200,000 residents, Akron, Ohio, led the nation with one filing per 211 housing units.

Nevada, with 3,227 properties subject to April foreclosure filings, retained the nation's top spot despite a 17 percent decline in filings from the same month in 2012. But the filings included 1,878 default notices, a 39.8 percent increase from April 2012. April filings in Nevada also included 948 notices of trustee sales and 401 repossessions.

RealtyTrac vice president Daren Blomquist said "foreclosure starts are bouncing higher in a handful of non-judicial states where servicers are adjusting to legislation designed to prevent improper foreclosures."

"This includes Nevada, Washington and Arkansas, where foreclosure starts have been increasing on an annual basis since late 2012, along with Oregon and California, where foreclosure starts are still down from a year ago but have been moving steadily higher in recent months," he said.

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