Nevada Foreclosures Increase In May
(Las Vegas, NV) — Nevada foreclosures increased in May after 27 consecutive months of annual decreases.
The number of properties that received a foreclosure filing in the Silver State was 18 percent higher than the previous month and 1 percent higher than the same time last year.
Nevada’s foreclosure rate still slipped to second highest among the states after ranking No. 1 in April. One in every 305 housing units had a foreclosure filing during the month.
The increase in overall activity was driven primarily by an 81 percent year-over-year increase in foreclosure starts, which reached a 20-month high in May.
Meanwhile scheduled foreclosure auctions in Nevada increased 21 percent from the previous month but were still down 14 percent from a year ago, and bank repossessions increased 4 percent from the previous month but were still down 64 percent from a year ago.
Nationwide, foreclosures were down 28 percent.
The complete report is available here.