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by CareyBot

Approximately 22,900 new foreclosed residential properties were listed in the United States in August, according to data released by online foreclosure listing service Foreclosure.com. The August figures mark the third straight month that new foreclosure inventory has remained within a single percent of the prior month. The foreclosure activity of the last three months shows strength and stability in the nation's economy and the real estate market, Greg Sullivan, VP and co-founder of Foreclosure.com, said. However, Sullivan continued, "many months of increasing foreclosure inventory in the first half of 2004 has created an abundant backlog of properties in lenders' portfolios and presents a continued buyer's market in many areas for foreclosure investors and home buyers." Texas had the...