Nevada Ranked Second in Foreclosures in First Half of 2013 - 8 News NOW

Nevada Ranked Second in Foreclosures in First Half of 2013

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LAS VEGAS -- Nevada maintained the nation's second highest foreclosure rate behind only Florida in the first half of 2013 despite a sharp drop in foreclosures compared to last year, reported Wednesday night.

The real estate analytics company from Irvine, Calif., reported that from January through June one in 71 Nevada housing units received a notice of default or pending trustee sale or was repossessed by a bank. That was more than double the national average of one foreclosure filing per 164 housing units.

But Nevada's foreclosure filings dropped 21 percent compared to the first half of 2012, and the state's foreclosure activity in June was nearly 58 percent below what was recorded in the same month last year.

Among large U.S. metro areas, Las Vegas had the nation's eighth highest foreclosure rate in the first half of 2013.

"Halfway through 2013 it is becoming increasingly evident that while foreclosures are no longer a problem nationally they continue to be a thorn in the side of several state and local markets, particularly where a backlog of delayed distress has built up thanks to a lengthy foreclosure process," RealtyTrac vice president Daren Blomquist said.

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