Las Vegas falls to No. 5 in foreclosures
Las Vegas dropped out of the top spot among the top 10 metropolitan areas with the highest foreclosure rates, Irvine, Calif.-based RealtyTrac reported Friday.
After four straight months with the nation’s top foreclosure rate among metropolitan areas with a population of at least 200,000, Las Vegas fell to No. 5, thanks to a 33 percent decrease in foreclosure activity from the previous month, the online provider of foreclosure information reported.
One in every 102 Las Vegas housing units received a foreclosure filing in November -- still more than four times the national average.
Nevada leads the nation with one in 119 households receiving a foreclosure filing in November.
Nevada had 5,549 notices of default, 1,368 notices of trustee sale and 2,378 real estate-owned homes for a total of 9,295 filings, down 33 percent from the same month a year ago.
Foreclosures could break the 4 million mark nationwide, RealtyTrac estimated. There were 306,627 total foreclosure filings in November, roughly one in 417 U.S. households, an 18 percent increase from a year ago.
For the second month in a row, four states -- California, Florida, Illinois and Michigan -- account for more than 50 percent of the nation’s total foreclosure activity.
Contact reporter Hubble Smith at hsmith@reviewjournal.com or 702-383-0491.
