U.S. Foreclosure Inventory Levels on the Rise, Announces Foreclosure.com
PR Newswire - August 08, 2005 09:15
BOCA RATON, Fla., Aug 08, 2005 /PRNewswire via COMTEX/ -- According to data released today by online foreclosure listing service, Foreclosure.com, a total of 90,590 foreclosed residential properties were available for sale in the U.S. during July. A baseline comparison of foreclosure inventory in July compared to June shows a 4.6 percent increase in the total number of foreclosed residential properties for sale in July, and an 8 percent increase in new foreclosure listings during the month.
Of the total of 90,590 foreclosed properties, 12,009 properties were added to Foreclosure.com's comprehensive database of listings in July through an opportunity to access newly available data sources. These properties are not included in the June comparison percentages detailed above. The new foreclosure data augmented the property listings in the following states: Arizona, California, Colorado, Indiana, Michigan, Nevada, Oklahoma, Oregon, Tennessee, Texas, Utah and Washington. The addition of new data sources is part of Foreclosure.com's commitment to deliver to its subscribers and business partners the most comprehensive, up-to-date database of Foreclosure listings in the U.S. to its subscribers and business partners.
"Foreclosure inventory is up nearly 10 percent compared to July 2004 -- an uncharacteristic upward trend throughout the summer months," said Brad Geisen, president and CEO, Foreclosure.com. "More significantly, we are seeing an increase in foreclosures in a majority of states. These blanket increases may indicate that factors such as weakening sustainable home ownership and the volatility of the housing market are beginning to add to the geographic economic factors that contribute to foreclosures." |
