Nevada’s foreclosure rate down to No. 7 in U.S.

LAS VEGAS — Nevada’s foreclosure rate is down to seventh in the nation after dropping about 44 percent year-over-year.

RealtyTrac statistics released Thursday show one in every 731 homes in Nevada saw some sort of foreclosure filing in July. The firm counted 375 initial foreclosure filings and 481 homes that were repossessed by the bank.

The state’s foreclosure rate fell about 2 percent since the month earlier. The six states with a higher rate are Florida, Maryland, Ohio, Connecticut, New Mexico and Illinois.

The change comes as other real estate indicators in the state improve. Home prices in the Las Vegas area have risen for 18 consecutive months, with the median price in July hitting $180,000.