(Las Vegas, NV) — Foreclosures are up in Nevada for the first time in nearly three years.
RealtyTrac reports more than 1400 notices were filed against properties in the Silver State during October, an increase of nearly 54% from September and 20% higher than in October 2011.
In Las Vegas, foreclosure activity rose 45% between September and October.
RealtyTrac’s Daren Blomquist tells KXNT the increases may signal that lenders are starting to adjust to a state law enacted in October 2011 which made it more difficult for lenders to foreclose.
Nevada is second in foreclosure rates behind Florida.