U.S. Foreclosure Inventory Dips in November
Slow buying pace compared to new foreclosures creates a strong investment environment
Boca Raton, FL (PRWEB) December 8, 2005 -- December 8, 2005 -- According to data released today by Foreclosure.com, 85,375 foreclosed residential properties were available for sale in the United States during November -- a decrease of 2.7 percent from October. The total number of new foreclosures listed for sale in November -- 20,951 -- also decreased 2.7 percent.
In the states with the highest number of foreclosure listings, including Colorado, Georgia, Indiana, Michigan, Ohio and Texas, only Georgia experienced an increase in new foreclosures from October to November. In addition, Massachusetts, North Carolina and Tennessee recorded a substantial rise in the number of new foreclosures for the second straight month, indicating early signs of a trend in those areas.
Please open PDF file to see new foreclosure listings in the 50 states and the District of Columbia.
Most areas of the United States experienced relatively stable foreclosure inventory during the past year," said Brad Geisen, president and CEO, Foreclosure.com. Even though new foreclosure inventory is on an even pace compared to last year, we are closely watching areas of the country such as the Northeast and South where foreclosures are beginning to increase."
Geisen continued, There is still a high foreclosure level throughout the country, even with the drop in new foreclosures. When we compare the slow buying pace to the number of new foreclosures entering the market, we see that a strong investment environment exists for foreclosed homes."
About Foreclosure.com
Based in Boca Raton, Florida, Foreclosure.com is committed to delivering the most comprehensive, up-to-date database of residential foreclosure, pre-foreclosure, bankruptcy, FSBO and tax lien listings in the United States to its customers and business partners through its cost-effective, Web-based subscription service. Through the companys work with hundreds of the top lending institutions and government agencies, Foreclosure.com has access to the nations largest inventory of residential foreclosure real estate, including Real Estate-Owned (REO) properties; Department of Housing and Urban Development (HUD), Department of Veterans Affairs (VA), Fannie Mae, and other government agency and financial institution properties; as well as listings from an extensive network of corporate sellers. On the Net: www.foreclosure.com.
Contacts:
Irene Savage/Tristam Wallace
Harpell, Inc.
781-210-0938/781-210-0944
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