Foreclosures worsened, though the news wasn't as bad as it looked.
During October, 54,418 properties entered the ranks of real estate owned, soaring from 43,941 the prior month, ForeclosureS.com announced today. Nevada had the worst REO rate through October year to date, at 1.45 percent, trailed by Michigan with 1.38 percent and Georgia at 1.28 percent.
Pre-foreclosure filings reached 128,019 last month, up from 97,984 in September, the listing service said. The 1.4 million filings on a year-to-date basis were 91 percent than the prior year.
Nevada had 4.05 pre-foreclosure filings for every 100 households year-to-date October -- the worst rate of all states, ForeclosureS.com reported. Next was Florida, with a 2.86 percent rate followed by Arizona at 2.05 percent.
But the foreclosure service noted that when both September and October figures were averaged, pre-foreclosure filings were down 4 percent from August and REOs were down 12 percent.