Nevada foreclosure rate drops in 2013 but remains second-highest in U.S.


An auction sign for a foreclosed home in Las Vegas bends in the wind, Nov. 17, 2010.

Nevada’s foreclosure rate showed a big improvement last year but was not good enough to pull the state out of the doldrums.

One in every 46 housing units statewide received a foreclosure-related filing in 2013, down 21 percent from 2012 and 66 percent from 2011, according to a new report from Irvine, Calif., research firm RealtyTrac.

Despite the progress, Nevada’s foreclosure rate was second highest in the country. Florida was No. 1 last year, with one in every 33 homes receiving a foreclosure filing.

Filings include default notices, scheduled auctions and bank repossessions.

Lenders seized fewer homes last year from delinquent borrowers in Nevada. There were 6,444 completed foreclosures in 2013, down 55 percent from 2012, RealtyTrac reported.

At the same time, though, lenders cranked up plans to repossess distressed properties.

Nevada had 17,628 foreclosure starts last year, up 21 percent from 2012. Those filings include notices of default, which start the foreclosure process.

Real Estate