Nevada’s foreclosure rate is down to seventh in the nation after dropping about 44 percent year-over-year.
The number of Nevada homes entering foreclosure is up 81 percent over last year, although the number that ultimately go up for auction is down.
Nevada foreclosures increased in May after 27 consecutive months of annual decreases.
Foreclosures are decreasing across the country and bank reposessions are at a 65 month low. Locally, the trend is moving in the opposite direction.
Las Vegas is the only major U.S. city where both home construction and foreclosure activity are on the rise.
A growing number of homes in Nevada are being sold for less than what’s owed on them.
Nevada remains one of the worst states for foreclosures.
After five years as the state with the highest foreclosure rate, Nevada has lost its crown to Florida.
Sales of foreclosed homes continue to decline in Nevada, while lenders were more willing to agree to short sales.
Foreclosures are up in Nevada for the first time in nearly three years.