Foreclosures particularly inundated five states during March, with the most occurring in the Lone Star State.
While residential foreclosures increased nationwide, Texas, Ohio, Michigan, Georgia and Indiana led the nation last month in foreclosed homes, according to data recently released by Foreclosure.com.
"Markets that benefited disproportionately from the housing boom over the last five years are most susceptible to foreclosures," said Brad Geisen, president and chief executive, in the written statement. "However, as our March data indicates, even areas where home prices didn't appreciate as quickly are now seeing increased foreclosures."
The five states reportedly also experienced some of the fastest month-over-month growth in foreclosures among all states.
The number of residential foreclosures in Texas rose 38 percent during March, and the other four states experienced an increase of about one-third, Foreclosure.com said.
Another report released last month from RealtyTrac indicated that Georgia held the highest foreclosure rate of all states during all of the first quarter, with one new foreclosure for every 127 households.