Nevada third in May foreclosures but well below last year

LAS VEGAS -- Nevada posted the nation's third highest home foreclosure rate in May, though foreclosures fell 57.1 percent below where they were a year ago, RealtyTrac reported Monday night.

May marked the eighth consecutive month where foreclosures in Nevada were below levels posted the same month a year earlier. But the real estate analytics company from Irvine, Calif., reported that the state still had one foreclosure filing for every 717 housing units compared with one filing per 1,199 nationally.

The only states ahead of Nevada were Florida (one filing per 436 housing units) and Maryland (one per 621).

Nevada filings included 693 default notices, 551 notices of pending trustee sales and 375 repossessions by lenders.

Foreclosures nationally last month reached their lowest point since December 2006.


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