Total Foreclosure Inventory and New Foreclosures Spike to End 2005

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12.7 percent increase in total foreclosures and 7.7 percent increase in new foreclosures mark sharpest rise in inventory since March, 2005.

The relative stability of U.S. foreclosure inventory ended in December

According to data released today by Foreclosure.com, 91,905 foreclosed residential properties were available for sale in the United States during December – an increase of 12.7 percent from November. The total number of new foreclosures listed for sale in December – 24,124 – increased 7.7 percent from the prior month.

These increases mark the highest month-to-month increase of both new and total foreclosures since March 2005.

The South region of the U.S. — Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee and Texas — led the country with a 17.4 increase in new foreclosures from November to December and a nine percent increase in new foreclosures. The Midwest region showed the second highest percentage increases, followed by the Northeast and West regions.

“The relative stability of U.S. foreclosure inventory ended in December,” said Brad Geisen, president and CEO, Foreclosure.com. “With lending institutions closing their books at the end of the year, it is somewhat common for the foreclosure inventory to rise. It is premature to predict that December’s inventory indicates a foreclosure crisis in the U.S.; however, this rise in inventory, which is higher than in recent years, should be closely monitored as 2006 begins.”    

Geisen continued, “If factors such as waning investor confidence in the housing market, high interest rates and a weakening sellers market continue, it is very likely that foreclosure inventory will remain high in the early months of 2006. Regardless of what happens in the first quarter, the current foreclosure inventory represents a very strong buyers market for investors and individuals.”

Note to Editors: Data includes foreclosed properties in the 50 states and the District of Columbia.

ALASKA    

Total Properties: 59

New Foreclosures: 17

ALABAMA    

Total Properties: 1497

New Foreclosures: 395

ARKANSAS    

Total Properties: 752

New Foreclosures: 295

ARIZONA    

Total Properties: 1248

New Foreclosures: 145

CALIFORNIA    

Total Properties: 1351

New Foreclosures: 245

COLORADO    

Total Properties: 6951

New Foreclosures: 1057

CONNECTICUT    

Total Properties: 167

New Foreclosures: 66

DISTRICT OF COLUMBIA    

Total Properties: 8

New Foreclosures: 5

DELAWARE    

Total Properties: 62

New Foreclosures: 27

FLORIDA    

Total Properties: 847

New Foreclosures: 318

GEORGIA    

Total Properties: 5930

New Foreclosures: 1748

HAWAII    

Total Properties: 9

New Foreclosures: 1

IOWA    

Total Properties: 1001

New Foreclosures: 238

IDAHO    

Total Properties: 260

New Foreclosures: 78

ILLINOIS

Total Properties: 4026

New Foreclosures: 842

INDIANA    

Total Properties: 5545

New Foreclosures: 1701

KANSAS    

Total Properties: 1121

New Foreclosures: 322

KENTUCKY    

Total Properties: 1364

New Foreclosures: 415

LOUISIANA    

Total Properties: 550

New Foreclosures: 139

MASSACHUSETTS

Total Properties: 255

New Foreclosures: 67

MARYLAND    

Total Properties: 365

New Foreclosures: 166

MAINE    

Total Properties: 122

New Foreclosures: 32

MICHIGAN    

Total Properties: 7955

New Foreclosures: 2064

MINNESOTA    

Total Properties: 1305

New Foreclosures: 358

MISSOURI    

Total Properties: 2819

New Foreclosures: 850

MISSISSIPPI    

Total Properties: 664

New Foreclosures: 160

MONTANA    

Total Properties: 105

New Foreclosures: 20

NORTH CAROLINA

Total Properties: 3986

New Foreclosures: 1251

NORTH DAKOTA

Total Properties: 61

New Foreclosures: 17

NEBRASKA    

Total Properties: 563

New Foreclosures: 139

NEW HAMPSHIRE

Total Properties: 66

New Foreclosures: 20

NEW JERSEY    

Total Properties: 402

New Foreclosures: 177

NEW MEXICO    

Total Properties: 433

New Foreclosures: 131

NEVADA    

Total Properties: 336

New Foreclosures: 43

NEW YORK    

Total Properties: 2158

New Foreclosures: 758

OHIO    

Total Properties: 8419

New Foreclosures: 2380

OKLAHOMA    

Total Properties: 1626

New Foreclosures: 389

OREGON    

Total Properties: 799

New Foreclosures: 134

PENNSYLVANIA

Total Properties: 3499

New Foreclosures: 1022

RHODE ISLAND

Total Properties: 20

New Foreclosures: 5

SOUTH CAROLINA

Total Properties: 2379

New Foreclosures: 695

SOUTH DAKOTA

Total Properties: 116

New Foreclosures: 34

TENNESSEE    

Total Properties: 4152

New Foreclosures: 955

TEXAS    

Total Properties: 11458

New Foreclosures: 2997

UTAH    

Total Properties: 2106

New Foreclosures: 430

VIRGINIA    

Total Properties: 532

New Foreclosures: 166

VERMONT    

Total Properties: 42

New Foreclosures: 18

WASHINGTON    

Total Properties: 937

New Foreclosures: 153

WISCONSIN    

Total Properties: 951

New Foreclosures: 297

WEST VIRGINIA

Total Properties: 481

New Foreclosures: 124

WYOMING    

Total Properties: 45

New Foreclosures: 16

About Foreclosure.com

With more than 1.2 million foreclosure, preforeclosure, bankruptcy, FSBO and tax lien listings in one place, Foreclosure.com delivers America’s largest and most accurate searchable database of foreclosed homes and investment property information to its customers and business partners. Based in Boca Raton, Florida, Foreclosure.com works with hundreds of top lending institutions and government agencies to list diverse property types on its Web site, including Real Estate Owned (REO); 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 Web: http://www.foreclosure.com.

Contacts:

Irene Savage/Tristam Wallace

Harpell, Inc.

781-210-0938/781-210-0944

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Harpell
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