Foreclosure Home Housing & Foreclosure Reports Nevada Foreclosure Activity Drops in January

Nevada Foreclosure Activity Drops in January

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Statewide filings down 8 percent from December; Rate highest in the nation

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 5,931 Nevada properties in January, an 8 percent decrease from December and 52 percent below the level reported for January 2011, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

Nevada had the highest foreclosure rate in the nation, reporting one in every 198 Nevada housing units with a foreclosure filing in January.

California continues to lead the nation in terms of total properties with foreclosure filings by a large margin, reporting 51,584 properties with foreclosure filings. Second ranked Florida reported 24,783 properties with foreclosure filings during the month. Third place was Illinois, where 14,349 properties with foreclosure filings were reported. Michigan had the fourth highest total, reporting 12,808 properties with foreclosure filings while Georgia took fifth place, tallying 12,467 properties with foreclosure filings.

The remaining states that make up the nation’s top 10 in January include Texas (9,085), Arizona (8,749), Ohio (8,325), Nevada and Indiana (5,039). The top 10 accounted for 73 percent of the nation’s total foreclosure activity for the month.

Clark County posts top foreclosure rate and total for January
 One in every 172 housing units in Clark County had a foreclosure filing in January — 3.6 times the national average and 1.2 times the state average — the highest foreclosure rate of all Nevada counties for the month. Clark County also led all counties in total foreclosure activity, reporting 4,876 properties with foreclosure filings for the month.

Nye County had the second highest rate of one in every 188 housing units with a foreclosure filing during the month — 3.3 times the national average and 1.1 times the state average. Lyon County had the third highest rate of one in every 211 housing units with a foreclosure filing during the month — three times the national average.

Washoe County had the second highest total, reporting 662 properties with foreclosure filings. Nye County was third, reporting 119 properties with foreclosure filings. Fourth highest was Lyon County, recording 107 properties with foreclosure filings. Carson City was fifth highest, tallying 72 properties with foreclosure filings for the month.

State the nation’s ninth largest contributor to total foreclosure activity in January
 Nevada accounted for 3 percent of the 210,941 properties with foreclosure filings reported nationwide in January. Total U.S. activity increased by 3 percent from December, but was still down over 19 percent from the level reported in January 2011. One in every 624 U.S. housing units received a foreclosure filing during the month.

“Although overall foreclosure activity was down from a year ago for the 16th straight month in January, we continue to see signs on a local and regional level that the frozen-up foreclosure process is beginning to thaw,” said Brandon Moore, CEO of RealtyTrac. “Foreclosure activity increased on a year-over-year basis for the first time in more than 12 months in Florida, Michigan, Indiana and Pennsylvania, following a pattern we saw in late 2011 in states such as California, Arizona and Massachusetts.

“We expect the pattern of increasing foreclosures to continue in the coming months, especially given the finalized mortgage and foreclosure settlement

 Nevada Top Foreclosure Rates By County – January 2012

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

24,531

33,831

62,260

23,777

66,542

210,941

624

n/a

n/a

Nevada

976

0

2,575

0

2,380

5,931

198

3.15

n/a

 

 

 

 

 

 

 

 

 

 

Clark

835

0

2,059

0

1,982

4,876

172

3.62

1.15

Nye

6

0

55

0

58

119

188

3.32

1.05

Lyon

11

0

52

0

44

107

211

2.96

0.94

Washoe

107

0

324

0

231

662

279

2.24

0.71

Carson City

7

0

42

0

23

72

327

1.91

0.61


Nevada Top Foreclosure Totals by County – January 2012

County

NOD

LIS

NTS

NFS

REO

Total

1/every X   HU (rate)

% Chg   Dec 11

% Chg   Jan 11

 

 

 

 

 

 

 

 

 

 

United States

24,531

33,831

62,260

23,777

66,542

210,941

624

2.89

-19.28

Nevada

976

0

2,575

0

2,380

5,931

198

-7.56

-51.63

 

 

 

 

 

 

 

 

 

 

Clark

835

0

2,059

0

1,982

4,876

172

-10.92

-51.03

Washoe

107

0

324

0

231

662

279

17.79

-51.99

Nye

6

0

55

0

58

119

188

16.67

-52.40

Lyon

11

0

52

0

44

107

211

-15.75

-63.23

Carson City

7

0

42

0

23

72

327

50.00

-22.58

 


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