Tuesday, November 08, 2005

Moratorium Holds Down Foreclosure Numbers

Reuters has the latest from Foreclosure.com. "According to data released today by Foreclosure.com, 87,794 foreclosed residential properties were available for sale in the United States during October, almost unchanged from September. The total number of new foreclosures listed for sale in October, 21,998, increased eight percent from September."

"'Foreclosure levels in the U.S. remain low compared to the beginning of this year,' said Brad Geisen. 'While there are still pockets of increasing inventory in the Midwest and Northwest, foreclosure levels in most of the country have remained flat during the past six months.'"

"Some states in the southern region of the United States such as Florida, Georgia, Mississippi, Oklahoma, Tennessee and Texas, showed a significant rise in the amount of new foreclosure listings in October. However, the total foreclosure inventory in these states stayed flat or decreased from September to October. Foreclosure inventory in these states remains below pre-hurricane levels."

"In Louisiana and Alabama, foreclosure inventory remains very low because of the federally mandated moratorium on new foreclosures in disaster areas."


At 7:38 AM, Blogger Ben Jones said...

I read that this moratorium is even holding down numbers in states like Geogia, which has had a lot of defaults.


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