Industry News

Real estate foreclosures on the rise

Western states post 'rapid increase'

Don't miss the real estate event of the summer
Join 4,000 real estate pros at Connect SF, Aug 7‑11, 2017

The number of new foreclosed residential properties available for sale nationwide increased 9 percent from February 2005 to February 2006, according to data released today by Foreclosure.com, while the total number of foreclosed properties available for sale dropped 7 percent from January 2006 to February 2006. February marks the second consecutive month of declining new foreclosures in the United States, Foreclosure.com reported. About 88,093 foreclosed residential properties were available for sale in the United States in February. There were 21,402 new foreclosures listed for sale in February, a 10.8 percent drop from the prior month. "Foreclosure inventory numbers in February are often low, partially because legal filings in December usually drop off around the holidays and reduce foreclosures in January and February," said Brad Geisen, president and CEO of Foreclosure.com, in a statement. "The year-to-year comparison, however, tells a different story. If new foreclosures in 2006...