Nevada foreclosure rate still more than double the U.S. average

Bloomberg News

A foreclosed home is shown in the Silverado neighborhood of Las Vegas.

Nevada’s foreclosure rate remained one of the worst in the country last month as banks started the foreclosure process on a rising number of homes.

One in every 320 housing units in Nevada had a foreclosure-related filing in February, according to a new report from Irvine, Calif., research firm RealtyTrac. Filings include notices of default, scheduled auctions and bank repossessions.

Nevada’s rate was down 14 percent from a year earlier but still more than double the national average. It also was the second-highest foreclosure rate nationwide last month for the fifth month in a row.

According to RealtyTrac, Nevada’s “foreclosure starts” — filings that start the auction process — jumped more than 330 percent year-over-year to 1,995 in February, a 17-month high.

Florida retained the dubious No. 1 spot for the sixth consecutive month in February, with one in every 282 housing units carrying a foreclosure filing.

Nationally, one in every 849 housing units had a foreclosure filing last month, down 25 percent from a year earlier.