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Nevada led the nation in foreclosure filings with notices of default filed on one in every 2,326 housing units in July. That’s up 12.4% from June, but down 2% from July 2024, according to ATTOM, a real estate analyst.
By comparison, one in ten Nevada homes received at least one foreclosure filing in 2009, when Nevada led the nation in foreclosures for the third year in a row.
Nationally, one in every 3,939 homes had a foreclosure filing in July.
“July’s foreclosure activity continues to trend upward year-over-year, with increases in both starts and completions,” Rob Barber, CEO of ATTOM, said in a news release. “While rising home prices are helping many owners maintain equity, the steady climb in filings suggests growing pressure in some markets.”
Florida ranks second behind Nevada, with proceedings initiated in July on one in every 2,420 units in that state, up 12% from June and 27% from July 2024.
Maryland (one in every 2,566 housing units with a foreclosure filing), South Carolina (one in 2,588), and Illinois (one in 2,722) round out the top five states.
The Las Vegas valley had the third highest foreclosure rate in the nation in July among U.S. metropolitan areas with populations of one million or more. Lenders initiated foreclosures on 489 properties last month. That’s one in every 1,914 households, up 16.43% from June and up 10.63% from July 2024.
By comparison, Reno, with a population of 495,909, and 215,504 housing units, saw foreclosure proceedings filed on 35 properties, or one in every 6,157 homes. That’s down 28.5% from June and down 50% from a year ago.
Houston, Texas led the nation in foreclosure filings in July with one for every 1,882 housing units. That’s up 76.5% from June and up 113% from July 2024.
Jacksonville, Florida, has the second highest foreclosure rate with one in every 1,893 units in default, up 48% from June and 23% from July 2024.
Riverside, California ranks fourth behind Las Vegas with one in 1,921 homes in default, up 28% from June and 34% from a year ago.
Cleveland, Ohio had the fifth highest rate of foreclosures in large metro areas with proceedings initiated on one in every 2,030 housing units, up 20% from June and 28% from July 2024.
The Current reported last month that Las Vegas leads the nation in the glut of homes for sale, a result of buyers and sellers paralyzed by high interest rates and apprehension about the economy.
