Industry News

Foreclosed real estate spikes in March

Largest volumes generally remain in Midwest, Texas, Carolinas

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The number of new foreclosed residential properties listed in March increased 14 percent from the previous month, according to data released today by Foreclosure.com. Overall, the total number of active and pending foreclosure properties rose 6.3 percent in March, the company said. "Nationwide, residential foreclosures have steadily risen in each of the first three months of this year. However, in the last month, we saw a small spike in new foreclosure listings," said Greg Sullivan, VP of Foreclosure.com, an online foreclosure listing service. March's increases were spread across the country, with the largest volumes of foreclosures remaining in states such as Michigan, the Carolinas, Texas, Illinois, Ohio and Indiana, Sullivan said in a statement. "These high volumes indicate that foreclosures in these areas are a result of generally less favorable economic conditions," Sullivan said. *** Send a Letter to the Editor for publication.Send a comment or news tip to our newsroom. P...