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, 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 “The more striking number is January’s total inventory level, which remained very high despite the drop in new foreclosures.”


He added, “In Texas, for example, new foreclosure inventory dropped by 2,320 properties compared to December — nearly a 50 percent reduction. On the other hand, total inventory only dropped by 553 properties to 9,375. This means that foreclosed properties are not selling as fast and indicates a very strong buyer’s market.”


Texas led all states in its total number of foreclosed properties for sale, and total new foreclosures in January. Ohio was second on the list in both categories, with 6,857 total foreclosed properties and 1,606 new foreclosures. Georgia was third with 5,782 total foreclosed properties and 1,533 new foreclosures; Michigan had 5,622 total foreclosed properties and 1,209 foreclosures; North Carolina had 4,796 total properties and 1,077 new foreclosures; and Indiana had 4,317 total properties and 877 new foreclosures.


Alaska–Total Properties: 46; new foreclosures: 12


Alabama–Total Properties: 1786; new foreclosures: 510


Arkansas–Total Properties: 879; new foreclosures: 198


Arizona–Total Properties: 718; new foreclosures: 223


California–Total Properties: 121; new foreclosures: 35


Colorado–Total Properties: 2576; new foreclosures: 666


Connecticut–Total Properties: 224; new foreclosures: 48


District of Columbia–Total Properties: 24; new foreclosures: 16


Delaware–Total Properties: 92; new foreclosures: 41


Florida–Total Properties: 1587; new foreclosures: 608


Georgia–Total Properties: 5782; new foreclosures: 1533


Hawaii–Total Properties: 12; new foreclosures: 5


Iowa–Total Properties: 938; new foreclosures: 195


Idaho–Total Properties: 552; new foreclosures: 149


Illinois–Total Properties: 2369; new foreclosures: 570


Indiana–Total Properties: 4317; new foreclosures: 877


Kansas–Total Properties: 1095; new foreclosures: 233


Kentucky–Total Properties: 1451; new foreclosures: 354


Louisiana–Total Properties: 1172; new foreclosures: 344


Massachusetts–Total Properties: 130; new foreclosures: 34


Maryland–Total Properties: 680; new foreclosures: 299


Maine–Total Properties: 133; new foreclosures: 25


Michigan–Total Properties: 5622; new foreclosures: 1209


Minnesota–Total Properties: 744; new foreclosures: 176


Missouri–Total Properties: 2518; new foreclosures: 673


Mississippi–Total Properties: 1146; new foreclosures: 323


Montana–Total Properties: 161; new foreclosures: 27


North Carolina–Total Properties: 4796; new foreclosures: 1077


North Dakota–Total Properties: 73; new foreclosures: 14


Nebraska–Total Properties: 483; new foreclosures: 105


New Hampshire–Total Properties: 41; new foreclosures: 13


New jersey–Total Properties: 470; new foreclosures: 180


New Mexico–Total Properties: 690; new foreclosures: 182


Nevada–Total Properties: 198; new foreclosures: 67


New York–Total Properties: 2203; new foreclosures: 689


Ohio–Total Properties: 6857; new foreclosures: 1606


Oklahoma–Total Properties: 1600; new foreclosures: 445


Oregon–Total Properties: 681; new foreclosures: 181


Pennsylvania–Total Properties: 3503; new foreclosures: 904


Rhode island–Total Properties: 4; new foreclosures: 1


South Carolina–Total Properties: 2765; new foreclosures: 621


South Dakota–Total Properties: 87; new foreclosures: 25


Tennessee–Total Properties: 3300; new foreclosures: 815


Texas–Total Properties: 9375; new foreclosures: 2769


Utah–Total Properties: 1077; new foreclosures: 288


Virginia–Total Properties: 755; new foreclosures: 203


Vermont–Total Properties: 29; new foreclosures: 6


Washington–Total Properties: 1320; new foreclosures: 366


Wisconsin–Total Properties: 997; new foreclosures: 231


West Virginia–Total Properties: 444; new foreclosures: 94


Wyoming–Total Properties: 71; new foreclosures: 14 has access to including real-estate owned (REO) properties; Department of Housing and Urban Development, Department of Veterans Affairs, Fannie Mae, and other government agency and financial institution properties; and listings from an extensive network of corporate sellers.




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