Wednesday, December 07, 2005

Some States May Have 'Early Signs Of A Trend'

Some foreclosure news is out this morning. "According to data released today, 85,375 foreclosed residential properties were available for sale in the United States during November, a decrease of 2.7 percent from October. The total number of new foreclosures listed for sale in November, 20,951, also decreased 2.7 percent."

"In the states with the highest number of foreclosure listings, including Colorado, Georgia, Indiana, Michigan, Ohio and Texas, only Georgia experienced an increase in new foreclosures from October to November. In addition, Massachusetts, North Carolina and Tennessee recorded a substantial rise in the number of new foreclosures for the second straight month, indicating early signs of a trend in those areas."

"'Most areas of the United States experienced relatively stable foreclosure inventory during the past year,' said Brad Geisen. 'Even though new foreclosure inventory is on an even pace compared to last year, we are closely watching areas of the country such as the Northeast and South where foreclosures are beginning to increase.'"


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