NV (and National) Foreclosure Stats Continue to Drop

Posted on by & filed under Nevada by the Numbers Blog.

ICYMI, in February the national foreclosure inventory was down 1.4% from January 2015, representing the 40th month of consecutive declines, according to CoreLogic. The states with the highest foreclosure inventory as a percentage of mortgaged homes were New Jersey (5.3%), New York (4.0%), and Florida (3.4%).

The Las Vegas foreclosure rate (2.2%) is still higher than the national rate of 1.43%, but it has dropped slowly and steadily over the past year.

Las Vegas also saw improvement in the volume of mortgaged homes with loan payments that are at least 90 days overdue. That volume dropped to 5.76% in February compared to 7.76% a year ago.

Nationally, CoreLogic found that the number of homes in foreclosure proceedings fell by 27% from a year ago. There were 39,000 completed foreclosures in the 12 month period ending in February, down from 46,000 in February 2014. That represents a 15.7% year over year decline and 11.6% decline when compared to January 2015.

Here’s the whole CoreLogic report.