(Las Vegas, NV) — After five straight months in the number two position, Nevada once again leads the nation in foreclosure starts.
One out of every 306 homes in Nevada received a foreclosure filing last month. In Las Vegas, filings were 79% higher than in March 2012.
RealtyTrac’s Daren Blomquist tells KXNT the increase is a rebound effect of 2011 state legislation which slowed the process by increasing requirements for lenders to start foreclosures.
In March, actual reposessions were still down more than 50% from last year. Blomquist believes the recent wave of filings will translate into reposessions in the coming months.