(RENO, Nev.) -- Nevada reported the highest foreclosure rate in the nation in April, according to data released Thursday from RealtyTrac.
The Reno Gazette Journal reports that Nevada’s foreclosure activity increased to 3,909 filings in April—up about .3 percent from March, but down about 67 percent from the same month in 2011.
“Although Nevada’s foreclosures have been trending down over the past few quarters, there still are so many distressed properties in the pipeline that it is going to take quite some time for all them to work their way through the system,” said Brian Kaiser, housing and real estate analyst for the Center for Regional Studies at the University of Nevada, Reno. “This has kept Nevada at the top of the foreclosure ranking for the last few years.”
California was ranked No. 2, behind Nevada, in states with the highest foreclosure rates in April.
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