Nevada Foreclosure Activity Rises in November

Statewide  filings up 3 percent from October; Rate highest in the nation

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 6,512 Nevada properties in November, a 3 percent increase from October, but still 43 percent below the level reported for November 2010, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

Nevada had the highest foreclosure rate in the nation, reporting one in every 175 housing units with a foreclosure filing in November — more than three times the national average.

California continues to lead the nation in terms of total properties with foreclosure filings by a large margin, reporting 63,689 properties with foreclosure filings. Second ranked Florida reported 24,739 properties with foreclosure filings during the month. Third place was Michigan, where 13,777 properties with foreclosure filings were reported. Illinois had the fourth highest total, reporting 12,398 properties with foreclosure filings while Georgia took fifth place, tallying 12,327 properties with foreclosure filings.

The remaining states that make up the nation’s top 10 in November include Arizona (10,766), Ohio (10,184), Texas (10,124), Nevada (6,512) and Wisconsin (4,382). The top 10 accounted for 75 percent of the nation’s total foreclosure activity for the month.

Lyon County posts top foreclosure rate in the state for November
 One in every 126 housing units in Lyon County had a foreclosure filing in November — 4.6 times the national average and 1.4 times the state average — the highest foreclosure rate of all Nevada counties for the month. Clark County had the second highest rate of one in every 150 housing units with a foreclosure filing during the month — 3.9 times the national average and 1.2 times the state average. Nye County had the third highest rate of one in every 189 housing units with a foreclosure filing during the month — 3.1 times the national average.

Clark County has highest foreclosure total in November
 Clark County tallied the highest level of foreclosure activity in the state, reporting 5,450 properties with foreclosure filings for the month. Washoe County had the second highest total, reporting 716 properties with foreclosure filings. Lyon County was third, reporting 145 properties with foreclosure filings. Fourth highest was Nye County, recording 87 properties with foreclosure filings. Carson City was fifth highest, tallying 48 properties with foreclosure filings for the month.

State the nation’s ninth largest contributor to total foreclosure activity in November
 Nevada accounted for 3 percent of the 224,394 properties with foreclosure filings reported nationwide in November. Total U.S. activity decreased by 3 percent from October and was down over 14 percent from the level reported in November 2010. One in every 579 U.S. housing units received a foreclosure filing during the month.

“Despite a seasonal slowdown similar to what we’ve seen in each of the past four years, November’s numbers suggest a new set of incoming foreclosure waves, many of which may roll into the market as REOs or short sales sometime early next year,” said James Saccacio, co-founder of RealtyTrac. “Overall foreclosure activity is down 14 percent from a year ago, the smallest annual decrease over the past 12 months, and some bellwether states such as California, Ohio and Massachusetts actually posted year-over-year increases in foreclosure activity in November.

“Scheduled foreclosure auctions reached a nine-month high in November, corresponding to a recent surge in default notices that began back in August,” Saccacio continued. “Many of the new defaults that started the foreclosure process over the past few months are now being scheduled for public foreclosure auction.”

 

Nevada Top Foreclosure Rates By County – November 2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

37,397

34,333

74,100

22,440

56,124

224,394

579

n/a

n/a

Nevada

1,489

0

2,879

0

2,144

6,512

175

3.31

n/a

 

 

 

 

 

 

 

 

 

 

Lyon

4

0

76

0

65

145

126

4.60

1.39

Clark

1,271

0

2,343

0

1,836

5,450

150

3.85

1.16

Nye

4

0

41

0

42

87

189

3.06

0.92

Washoe

205

0

337

0

174

716

252

2.29

0.69

Carson City

0

0

41

0

7

48

478

1.21

0.37

 Nevada Top Foreclosure Totals by County – November 2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Oct 11

% Chg Nov 10

 

 

 

 

 

 

 

 

 

 

United States

37,397

34,333

74,100

22,440

56,124

224,394

579

-2.72

-14.46

Nevada

1,489

0

2,879

0

2,144

6,512

175

3.25

-42.73

 

 

 

 

 

 

 

 

 

 

Clark

1,271

0

2,343

0

1,836

5,450

150

7.60

-41.92

Washoe

205

0

337

0

174

716

252

-13.84

-40.58

Lyon

4

0

76

0

65

145

126

5.84

-31.60

Nye

4

0

41

0

42

87

189

-18.69

-48.52

Carson City

0

0

41

0

7

48

478

29.73

-22.58

 

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