Nevada's Foreclosure Rates Highest In Country

[May 23, 2008.]

 

Since March of 2006, the amount of real estate foreclosures all across America has gone up by 57%, according to the research of the RealtyTrac organization. Of these, more take place in the state of Nevada than any other state. According to the numbers gathered by RealtyTrac, one in every 139 households in Nevada has had to file for foreclosure on a piece of real estate in the last month. The national average for the month of March is approximately one in every 538 households - Nevada's rate being quadruple the national.

Across the country, Mach witnessed 234,685 total foreclosure operations. That amounts to 5% more foreclosures in March than in February of 2008.

After Nevada, the most foreclosures in the country took place in Florida and California. California has had the second-most foreclosures in the country during the month of March, according to RealtyTrac. Meanwhile, Florida has witnessed the third-most foreclosures. In California, one of every 204 households has had to file for foreclosure. Because of California's high population, that number amounts to a staggering 64,711 properties foreclosed, more than anywhere else in the country. In Florida, one of every 282 households has found itself in that unenviable situation.

What state came in forth? Arizona did, for the third month in a row. Foreclosures in Arizona have actually gone down by almost 5% from February to March. However, the foreclosure rate in Arizona continues to be the forth-highest in the country, at 9,199 properties foreclosed during the month of March. That amounts to one foreclosure per 283 households.

Similarly, RealtyTrac's data showed that the state of Colorado came in fifth in the country as far as foreclosures, despite the fact that the amount of foreclosure in Colorado decreased by 8% from February to March. One out of every 339 households in Colorado has had to file fore foreclosure, amounting to a total of 6,180 properties foreclosed in Colorado.