Things are looking up in Nevada, ever so slightly, as Arizona has surpassed Nevada in the foreclosure rate.
From the Reno Gazette Journal: After posting the highest foreclosure rate in the nation for 62 straight months, Nevada fell to the No. 2 spot in March behind Arizona as stricter recording requirements sharply curtailed foreclosure-related filings in the state while raising concerns about shadow inventory.
Overall, foreclosure-related activity in Nevada fell to 3,899 filings in March, down nearly 70 percent from 12,900 filings during the same period last year, according to national foreclosure tracker RealtyTrac.
The decrease also was observed in Washoe County, where overall activity fell to 372 filings — down 71.3 percent from the 1,296 filings seen in March last year. The number includes notices of default, notices of trustee sale or auction and actual bank-owned foreclosures.
The is still not very good news. We have a lot of houses in foreclosure and many vacant homes in the Las Vegas Valley. Almost 4000 foreclosures in 1 month still sucks.
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