Las Vegas Sun

June 27, 2017

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Nevada has third-highest foreclosure rate, repossessions rise

Despite a drop in overall foreclosure filings, lenders have repossessed a rising volume of homes in Nevada compared with last year, keeping the Silver State among the hardest-hit areas in the country.

One in every 236 homes statewide received a foreclosure-related filing in the quarter ending March 31, down 11 percent from the same period last year, according to a new report from RealtyTrac.

Creditors started the foreclosure process on 2,330 homes in the first quarter, down 24 percent year-over-year. However, they seized 1,426 properties, up 46 percent, RealtyTrac found.

All told, Nevada had the third-highest foreclosure rate in the country in the first quarter, behind Maryland and New Jersey.

Nationally, 1 in every 459 homes were hit with foreclosure filings, down almost 8 percent from a year earlier.

Among metro areas with at least 200,000 people, Las Vegas had the sixth-highest rate, with 1 in every 213 homes getting slapped with foreclosure filings.

Atlantic City, N.J., pummeled by a rash of casino closures in 2014, was No. 1, at 1 in every 106 homes, according to RealtyTrac.

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