Industry News

U.S. real estate foreclosures soar 45% in January

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About 103,540 properties nationwide entered some stage of foreclosure in January, a 27 percent increase from the previous month and a 45 percent increase from January 2005, according to RealtyTrac, an online marketplace for foreclosure properties. RealtyTrac's Monthly U.S. Foreclosure Market Report shows a January national foreclosure rate of one new foreclosure for every 1,117 U.S. households, continuing an upward trend in which the national foreclosure rate rose in every quarter of 2005. RealtyTrac's report tracks properties in all three phases of foreclosure: pre-foreclosures, including notice of default and lis pendens; foreclosures, including notice of trustee sale and notice of foreclosure sale; and real estate-owned properties that have been foreclosed on and repurchased by a bank. The company publishes a national database of pre-foreclosure and foreclosure properties, with more than 600,000 properties from over 2,500 counties across the country, and is the foreclosure data pr...