Nevada foreclosure rate 5th in nation in August
LAS VEGAS (AP) -- Nevada's foreclosure rate is fifth in the nation after big drops in activity compared with last year.
RealtyTrac reports Thursday that Nevada's August foreclosure rate is up 3 percent from July, but down nearly 70 percent from the same time last year.
That somewhat reflects national foreclosure numbers, which saw a 1 percent increase from July but a 15 percent drop since last August.
One in every 402 properties in Nevada saw some sort of foreclosure filing last month. That rate fell behind Illinois, Florida, California and Arizona.
The state's rate has been declining as lenders adjust to a state law requiring more paperwork to launch a foreclosure.
That law took effect in October and dramatically slowed Nevada foreclosure activity.