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.