Report: Nevada slips in foreclosure rankings - 8 News NOW

Report: Nevada slips in foreclosure rankings

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LAS VEGAS -- Nevada tumbled in April to eighth place among states with the highest residential foreclosure rates, its lowest ranking since November, RealtyTrac reported Wednesday night.

The real estate analytics company from Irvine, Calif., reported that one of every 770 Nevada housing units received a foreclosure filing last month. Tops on the list was Florida with one filing per 400 housing units, and the national average was one filing per 1,137 units.

Nevada’s filings included 525 default notices, 519 notices of pending trustee sales and 460 repossessions by lenders.

New foreclosures initiated in Nevada in April fell 71 percent from the same month a year ago but repossessions from lenders were up nearly 15 percent.

“The rise in bank repossessions in many states is a sign that those markets are working through the final remnants of foreclosures left over from the recent housing crisis,” RealtyTrac vice president Daren Blomquist said. “Many of these bank-owned homes are bottom-of-the-barrel properties in terms of location or condition, but they will provide some much-wanted inventory of homes for sale in some markets in the coming months.”

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