Nevada sees July spike in foreclosure starts

LAS VEGAS -- Nevada led the nation in July with a 128 percent increase in residential foreclosure starts from the same month a year ago, RealtyTrac reported Wednesday night.

The real estate analytics company from Irvine, Calif., reported that Nevada was one of only 14 states that experienced an increase in default notices from a year ago.

RealtyTrac also reported that overall foreclosure activity in Nevada rose 15.4 percent last month compared to a year ago. That followed nine consecutive months of year-over-year declines.

Nevada ended July with the nation's third highest foreclosure rate, with one of every 639 housing units having been impacted by a default notice, scheduled auction or repossession by a lender. Florida topped the list with one foreclosure filing per 469 housing units, while the national average was one filing per 1,203 units.

Nevada's foreclosure activity for July included 1,037 default notices, 540 scheduled auctions and 255 repossessions by lenders.

"The number of state and local markets with persistent foreclosure problems is becoming fewer and farther between, although there were some surprise spikes in foreclosure activity in July in markets that had previously been experiencing long-term downward trends in foreclosure activity," RealtyTrac vice president Daren Blomquist said.

 


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