Nevada reclaims title as U.S. foreclosure capital
May 18, 2012
LAS VEGAS (AP) – Nevada’s reclaiming its title as the foreclosure capital of the U.S. after a one-month stint in the No. 2 spot.
Data released Thursday by RealtyTrac shows Nevada’s foreclosure rate edged out second-place California in April, even though foreclosure activity that month was down 67 percent year-over-year. Foreclosure activity inched up less than 1 percent from March.
One in every 300 housing units in Nevada had a foreclosure filing in April.
Nevada had a 62-month streak as the top state for foreclosures until Arizona knocked it from the top spot in March. But RealtyTrac says the Silver State has seen a 15 percent increase in foreclosure starts since March.
Foreclosures in Nevada have been declining since a state law took effect in October, requiring lenders to file more paperwork to foreclose.