Foreclosures Drop in October

Nevada saw a decline in foreclosure-related activity in October.   It was down by more than 26 percent from September. Activity in Nevada was lower by more than 4 percent compared to the same month last year.

Overall foreclosure-related activity — notices of default, notices of trustee sale and bank-owned foreclosures — fell in October on both a monthly and yearly basis for Washoe County, according to a report released today by RealtyTrac.Total activity was down by more than 23 percent compared to September, fueled by a sizeable decline in notices of trustee sales. Notices of default also decreased. However, actual bank-owned foreclosures stayed relatively flat.

Nevada’s foreclosure rate of one housing unit in 80, nearly five times the national average, is still considered to be quite high.


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