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

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Total U.S. foreclosure inventory approaches peak levels of 2004, reports Foreclosure.com
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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