Nevada posted the nation’s highest state foreclosure rate for 2007, according to a survey released Tuesday.
During 2007, 3.4% of Nevada households entered some stage of foreclosure during the year, according to the report published by RealtyTrac, an online marketplace for foreclosure properties.
The state had the nation’s highest monthly foreclosure rate in all 12 months of the year, the firm said. A total of 66,316 foreclosure filings on 34,417 properties were reported in Nevada in 2007, the report said, an increase of more than 200 percent in total filings from 2006.
The weakness of the housing market has impacted the state government; revenues are coming in below forecasts in the budget. In January, Gov. Jim Gibbons ordered 4.5% budget reductions for most state agencies.
