More Nevada homes entering foreclosure in March

Number of Nev. homes entering foreclosure process up 88 percent in March year-over-year

Associated Press

LAS VEGAS (AP) -- Analysts say the number of Nevada properties entering the foreclosure process has almost doubled compared with a year earlier.

Statistics released Thursday by RealtyTrac show nearly 2,200 homes received an initial notice of default in March, up 88 percent compared with the same time a year ago and marking an 18-month high.

But the state's overall foreclosure rate has changed little year-over-year, thanks to fewer repossessions. Nevada's foreclosure rate ranks first in the nation even after dropping about 3 percent from last March.

One in every 306 Nevada properties received some sort of foreclosure filing in March.

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