Nevada Foreclosure Activity Rises in April

Statewide foreclosure filings up 10 percent from March; rate #1 nationally

 

Monthly foreclosure activity in Nevada rose in April, up 10 percent from the previous month to 16,217 properties with foreclosure filings. This latest state total is relatively unchanged from April 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The state had the highest state foreclosure rate in the nation with one in 69 Nevada housing units receiving a foreclosure filing during the month.

 

“The number of Nevada foreclosure filings increased between March and April, but remained unchanged from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Nevada’s rate of foreclosures topped the nation and unemployment continues to be much higher than the national average — both issues posing serious concern for the state’s economy.”

 

California continued to maintain the highest level of foreclosure activity in the country in April, reporting 69,725 properties with foreclosure filings for the month. Florida had the second highest total, documenting 48,384 properties with foreclosure filings. Michigan came in at third highest, reporting 19,173 properties with foreclosure filings. Illinois came in fifth highest, tallying 14,190 properties with foreclosure filings.

 

The remaining states in the nation’s top 10 for total foreclosure activity in April were Arizona (16,088), Georgia (13,963), Texas (13,133), Ohio (11,936) and Virginia (7,065). In all, the top 10 accounted for 70 percent of all foreclosure filings in the nation for April.

 

Lyon County posts top foreclosure rate for April

Lyon County posted the highest county foreclosure rate in Nevada for April, with one in every 59 housing units receiving a foreclosure filing — 6.5 times the national average. Clark County came in second, with one in every 60 housing units receiving a foreclosure filing — 6.5 times the national average. Nye County was third, with one in every 65 housing units receiving a foreclosure filing — six times the national average.

 

Clark County led the state in total foreclosures for April

Clark County led the way, reporting 13,607 properties with foreclosure filings for the month. Washoe County was second highest, documenting 1,613 properties with foreclosure filings. Reporting 307 properties with foreclosure filings for the month, Lyon County ranked third highest. Nye County was fourth, reporting 254 properties with foreclosure filings. A total of 144 properties with foreclosure filings were reported in Douglas County, the fifth highest county total in April.

 

State the fifth largest single contributor to nation’s month foreclosure total

Nevada accounted for 5 percent of the 333,837 properties with foreclosure filings reported nationwide in April. Total U.S. activity declined more than 9 percent from the previous month and was 2 percent below the level reported in April 2009. One in every 387 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: Default Notice of Default (NOD) and Lis Pendens (LIS); Auction Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank). If more than one foreclosure document is received for a property during the month, only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

 

Nevada Top Foreclosure Rates By County – April 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

42,889

60,873

96,770

40,873

92,432

333,837

387

n/a

n/a

Nevada

6,298

2

5,821

0

4,096

16,217

69

5.56

n/a

 

 

 

 

 

 

 

 

 

 

Lyon

105

0

86

0

116

307

59

6.52

1.17

Clark

5,233

2

4,908

0

3,464

13,607

60

6.49

1.17

Nye

95

0

81

0

78

254

65

5.95

1.07

Washoe

683

0

617

0

313

1,613

111

3.48

0.63

Douglas

69

0

46

0

29

144

162

2.38

0.43

 

 

Nevada Top Foreclosure Totals by County – April 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Mar 10

% Chg Apr 09

 

 

 

 

 

 

 

 

 

 

United States

42,889

60,873

96,770

40,873

92,432

333,837

387

-9.05

-2.40

Nevada

6,298

2

5,821

0

4,096

16,217

69

10.00

-0.30

 

 

 

 

 

 

 

 

 

 

Clark

5,233

2

4,908

0

3,464

13,607

60

11.76

-3.31

Washoe

683

0

617

0

313

1,613

111

-0.37

16.63

Lyon

105

0

86

0

116

307

59

-3.76

18.08

Nye

95

0

81

0

78

254

65

12.39

-10.56

Douglas

69

0

46

0

29

144

162

6.67

17.07

 

 

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