Industry News

Real estate foreclosures jump in New York, California

But national rate dips 12% from October

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Foreclosures increased in California and New York from October to November, according to RealtyTrac, an online marketplace for foreclosure properties, while Florida topped the list for the most properties in some stage of foreclosure. RealtyTrac's November 2005 Monthly U.S. Foreclosure Market Report, showed that 71,606 properties nationwide entered some stage of foreclosure in November, a 12 percent decrease from October. The report shows a November national foreclosure rate of one foreclosure for every 1,615 U.S. households. Founded in 1996, RealtyTrac publishes a national database of pre-foreclosure and foreclosure properties, with more than 550,000 properties from over 2,400 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate, AOL Real Estate and HomeGain.com. "After reaching their highest level of the year in October, foreclosures in November retreated closer to the levels we saw earlier this fall and in the summer," said James...