November 24, 2014
LAS VEGAS (AP) - Nevada's foreclosure rate has climbed to second in the nation even after activity dropped significantly year-over-year.
RealtyTrac reports Thursday that Nevada's October foreclosure rate is down 47 percent year-over-year, but up 41 percent compared with September. The state jumped from its No. 5 ranking in September.
One in every 352 properties in Nevada saw some sort of foreclosure filing last month. That rate was behind only Florida.
Nevada's numbers are a magnified version of the national foreclosure picture for the month of October. RealtyTrac reports foreclosure filings nationwide were up 3 percent from September, but down 19 percent year-over-year.
The state's rate foreclosure rating has been down for the past year after a state law took effect last October requiring more paperwork for lenders to launch a foreclosure.