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New Foreclosure Inventory in U.S. Rises Nearly Fifty Percent in March

New Foreclosure Inventory in U.S. Rises Nearly Fifty Percent in March

RISMEDIA, April 7 – Some 28,190 new foreclosed residential properties were listed for sale in the U.S. during March 2005, reports Foreclosure.com.

The number represents an increase of 50 percent from February 2005. The total number of U.S. residential foreclosure properties available for sale in the U.S. during the month of March was 80,757, an increase of 10 percent from February.

"New foreclosure inventory rose in 47 states in March. This signifies a national trend in foreclosure inventory and can likely be attributed to the rise in interest rates during the latter half of 2004, and a slowdown in the trend of rising home values in the fourth quarter of 2004," said Brad Geisen, president and CEO, Foreclosure.com. "Foreclosures are most prevalent in areas of the country where home values are not rising, such as Ohio, Texas, South Carolina and Michigan. However, if the combination of rising interest rates and dropping home values continues, foreclosure inventory will likely continue to rise across the country."

ALASKA
Total Properties: 66
New Foreclosures: 31

ALABAMA
Total Properties: 2078
New Foreclosures: 747

ARKANSAS
Total Properties: 808
New Foreclosures: 240

ARIZONA
Total Properties: 609
New Foreclosures: 231

CALIFORNIA
Total Properties: 129
New Foreclosures: 58

COLORADO
Total Properties: 2831
New Foreclosures: 1070

CONNECTICUT
Total Properties: 192
New Foreclosures: 79

DISTRICT OF COLUMBIA
Total Properties: 22
New Foreclosures: 12

DELAWARE
Total Properties: 94
New Foreclosures: 40

FLORIDA
Total Properties: 1319
New Foreclosures: 550

GEORGIA
Total Properties: 6465
New Foreclosures: 2357

HAWAII
Total Properties: 9
New Foreclosures: 3

IOWA
Total Properties: 1027
New Foreclosures: 343

IDAHO
Total Properties: 491
New Foreclosures: 138

ILLINOIS
Total Properties: 2496
New Foreclosures: 910

INDIANA
Total Properties: 4602
New Foreclosures: 1545

KANSAS
Total Properties: 1072
New Foreclosures: 389

KENTUCKY
Total Properties: 1507
New Foreclosures: 461

LOUISIANA
Total Properties: 1128
New Foreclosures: 401

MASSACHUSETTS
Total Properties: 122
New Foreclosures: 45

MARYLAND
Total Properties: 641
New Foreclosures: 334

MAINE
Total Properties: 112
New Foreclosures: 40

MICHIGAN
Total Properties: 6480
New Foreclosures: 2390

MINNESOTA
Total Properties: 785
New Foreclosures: 276

MISSOURI
Total Properties: 2523
New Foreclosures: 927

MISSISSIPPI
Total Properties: 1178
New Foreclosures: 353

MONTANA
Total Properties: 143
New Foreclosures: 47

NORTH CAROLINA
Total Properties: 4244
New Foreclosures: 1228

NORTH DAKOTA
Total Properties: 74
New Foreclosures: 29

NEBRASKA
Total Properties: 516
New Foreclosures: 176

NEW HAMPSHIRE
Total Properties: 52
New Foreclosures: 16

NEW JERSEY
Total Properties: 446
New Foreclosures: 183

NEW MEXICO
Total Properties: 697
New Foreclosures: 258

NEVADA
Total Properties: 186
New Foreclosures: 49

NEW YORK
Total Properties: 2039
New Foreclosures: 714

OHIO
Total Properties: 7518
New Foreclosures: 2470

OKLAHOMA
Total Properties: 1385
New Foreclosures: 488

OREGON
Total Properties: 659
New Foreclosures: 242

PENNSYLVANIA
Total Properties: 3606
New Foreclosures: 1244

RHODE ISLAND
Total Properties: 6
New Foreclosures: 2

SOUTH CAROLINA
Total Properties: 2615
New Foreclosures: 800

SOUTH DAKOTA
Total Properties: 124
New Foreclosures: 62

TENNESSEE
Total Properties: 3265
New Foreclosures: 1107

TEXAS
Total Properties: 9996
New Foreclosures: 3645

UTAH
Total Properties: 990
New Foreclosures: 385

VIRGINIA
Total Properties: 709
New Foreclosures: 243

VERMONT
Total Properties: 26
New Foreclosures: 11

WASHINGTON
Total Properties: 1076
New Foreclosures: 340

WISCONSIN
Total Properties: 1067
New Foreclosures: 344

WEST VIRGINIA
Total Properties: 447
New Foreclosures: 113

WYOMING
Total Properties: 66
New Foreclosures: 20

For more information, visit http://www.foreclosure.com

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LINK: http://rismedia.com/index.php/article/articleview/9944/1/1