Nevada Maintains High Foreclosure Rate Despite Sharp Decline - 8 News NOW

Nevada Maintains High Foreclosure Rate Despite Sharp Decline

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LAS VEGAS -- Nevada maintained the nation's second highest home foreclosure rate in January despite a sharp decline in foreclosure filings from a year ago, RealtyTrac reported Wednesday night.

The state had one foreclosure filing for every 533 housing units, behind only Florida (one in 346) and double the national average of one filing per 1,058 homes. Still, Nevada's 2,196 filings last month represented a 35 percent decline from January 2013.

Foreclosure filings include default notices, pending trustee sales notices and repossessions by lenders.

Only 284 foreclosures were initiated in Nevada last month, an 84 percent drop from the same month a year ago. There were also 543 repossessions from banks, 28 percent less than in January 2013.

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