Foreclosure Activity Decreases 8% in November

November was the fourth straight month that foreclosure activity declined after hitting an all-time high in July, according to the latest data from RealtyTrac. It added November foreclosures represented the lowest level since February. Based on its November 2009 U.S. Foreclosure Market Report, foreclosure filings, including default notices, scheduled foreclosure auctions and bank repossessions, were reported on 306,627 properties during the month, a decrease of 8% from October but still up 18% from November 2008. Default notices nationwide were down 8% from October but still up 22% from a year ago, scheduled foreclosure auctions were down 12% but still up 32% from November 2008, and bank repossessions were flat from October and down 2% from November 2008. Nevada foreclosure activity decreased by a double-digit percentage for the second straight month, but the state continued to have the nation's top foreclosure rate. A total of 9,295 Nevada properties received a filing, down 33% from October and also a 33% decrease from a year ago. Florida took the No. 2 spot from California, which posted the nation's third highest foreclosure rate - one in every 180 housing units received a filing during November. After three straight months of decreases, Arizona foreclosures increased almost 8%. Las Vegas dropped from the top spot among metropolitan areas with a population of at least 200,000, to No. 5 thanks to a 33% decrease in foreclosures.