(Las Vegas, NV) — Nevada’s foreclosure rate remains second in the nation even though activity dropped significantly year-over-year.
RealtyTrac reports Thursday that Nevada’s November foreclosure rate is down 54 percent year-over-year, and down 10 percent compared with October.
One in every 390 properties in Nevada saw some sort of foreclosure filing last month. That rate was behind only Florida.
Nevada’s numbers are a magnified version of the national foreclosure picture for the month of November. RealtyTrac reports foreclosure filings nationwide were down 3 percent from October, and down 19 percent year-over-year.
The state’s rate foreclosure rating has been down for the past year after a state law took effect last October requiring more paperwork for lenders to launch a foreclosure.