The number of new foreclosed residential properties dropped 41 percent nationwide from December to January, while the number of new foreclosures remained dipped slightly, according to Foreclosure.com, which tracks residential foreclosures and fore-sale-by-owner properties. According to data released today, 20,279 new foreclosed residential properties were listed for sale during January 2005, and the total number of residential foreclosure properties available for sale in the U.S. during the month of January was 78,694. The total U.S. foreclosure inventory slipped 6 percent from December to January. "A reduction in the number of new foreclosures is common at the beginning of a new year, resulting from properties not being processed as quickly during the holiday season," said Brad Geisen, president and CEO for Foreclosure.com. "The more striking number is January's total inventory level, which remained very high despite the drop in new foreclosures." He added, "In ...
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