Total Foreclosure Inventory and New Foreclosures Spike to End 2005
12.7 percent increase in total foreclosures and 7.7 percent increase in new foreclosures mark sharpest rise in inventory since March, 2005.
Boca Raton, FL (PRWEB) January 11, 2006 -- 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: www.foreclosure.com.
Contacts:
Irene Savage/Tristam Wallace
Harpell, Inc.
781-210-0938/781-210-0944
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