Industry News

Nevada tops U.S. rate of foreclosure filings

Number of filings up 68% year-over-year in November

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Nevada continued to lead the nation for its rate of foreclosure filings per household in November -- a position it has held for the past 11 months, foreclosure data company RealtyTrac reported today. The company reported a 67.8 percent nationwide gain in the volume of foreclosure filings in November 2007 compared to the same month last year, though filings declined 10 percent compared to October 2007. The national rate of foreclosure filings in November was 1 for every 617 households -- Nevada had a rate of 1 filing for every 152 households during that month. Next on the list was Florida, with a rate of 1 filing for every 282 households; followed by Ohio, 1-in-307; Colorado, 1-in-320; California, 1-in-325; Michigan, 1-in-391; Georgia, 1-in-421; Arizona, 1-in-441; Indiana, 1-in-484; and Illinois, 1-in-624. "The 10 percent drop in November is the first double-digit monthly decrease we've seen since April 2006," said James J. Saccacio, RealtyTrac, in a statement. Saccacio also stated that...