Realty Trac release its' Foreclosure Report for July 2010, which shows that foreclosure filings -- default notices, scheduled auctions and bank repossessions -- were reported on 325,229 properties in July, a nearly 4 percent increase from the previous month but a nearly 10 percent decrease from July 2009. One housing unit in every 397 in the U.S. received some type of foreclosure filing in July 2010.

Lenders foreclosed on 92,858 U.S. properties in July, a 9 percent increase from the previous month and a 6 percent increase from July 2009. Julys bank repossession (REO) total was the second highest monthly total since RealtyTrac began tracking REO activity in April 2005 and was 1 percent below the monthly REO activity peak of 93,777 in May 2010.

Nevada Continues to Lead the Nation with Highest Foreclosure Rate

Nevada continues to document the nations highest foreclosure rate for the 43rd straight month with one in every 82 housing units receiving a foreclosure filing in July. July saw nearly a 7% increase from the previous month in foreclosure filings with a total of 13,727.  However, this number represents about a 30 percent decrease from July 2009. July was the 10th straight month where overall Nevada foreclosure activity decreased on a year-over-year basis.

Foreclosure activity increased nearly 9 percent from the previous month in the (Clark County) Las Vegas-Paradise, Nev., metro area, which registered the highest foreclosure rate among metropolitan areas with a population of 200,000 or more. One in every 71 Las Vegas housing units received a foreclosure filing in July, more than five times the national average.

Are you looking to purchase property in the Las Vegas area? Now is the time to buy.

Contact Jan O'Brien directly at 702-858-9191.

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