Foreclosures hit 'sand state' metros

The 26 metro areas with the highest foreclosure rates during the first quarter were located in just four "sand states" -- California, Florida, Nevada and Arizona --  data aggregator RealtyTrac said today.

Las Vegas had the highest foreclosure rate of 203 U.S. metro areas with populations of 200,000 or more, with one foreclosure-related filing for every 22 housing units. Las Vegas was followed by Merced, Calif. (one filing per 24 homes) and Cape Coral-Fort Myers, Fla. (one filing per 26 homes), RealtyTrac said.

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