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New Foreclosures in U.S. Rise, Total Inventory Remains Stable During October

November 9, 2005



BOCA RATON, Fla., /PRNewswire/ -- According to data released 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.

The re-listing of available U.S. Housing and Urban Development (HUD)-owned properties in Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, Oklahoma, South Carolina, Tennessee and Texas, resulted in the increase of new foreclosures in October. By September 29, HUD identified all the properties it would set aside for the victims of the storm and started re- listing inventory on October 6. For the remaining areas of the country, there was less than a one percent increase in new foreclosures from September to October.

"Foreclosure levels in the U.S. remain low compared to the beginning of this year," said Brad Geisen, president and CEO, Foreclosure.com. "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."

Foreclosure Inventory in South Remains Affected by Hurricanes 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.

"Foreclosure inventory in the south will be affected by the hurricanes for at least the remainder of the year as the government continues its relief efforts and displaced residents continue to move back into the area," said Geisen. "We anticipate a higher than normal buyer demand for foreclosed properties in the south, which will keep the total inventory levels low until the end of the moratorium period."

  Total Properties: New Foreclosures:
ALASKA 63 17
ALABAMA 1559 350
ARKANSAS 617 139
ARIZONA 1109 150
CALIFORNIA 1035 136
COLORADO 6685 1101
CONNECTICUT 149 59
DISTRICT OF COLUMBIA 13 8
DELAWARE 87 40
FLORIDA 765 240
GEORGIA 5236 1444
HAWAII 11 1
IOWA 1016 270
IDAHO 287 86
ILLINOIS 4067 889
INDIANA 5400 1695
KANSAS 1075 327
KENTUCKY 1330 289
LOUISIANA 645 106
MASSACHUSETTS 183 46
MARYLAND 448 188
MAINE 106 40
MICHIGAN 7607 1847
MINNESOTA 1149 306
MISSOURI 2701 817
MISSISSIPPI 790 148
MONTANA 124 32
NORTH CAROLINA 3730 1029
NORTH DAKOTA 61 25
NEBRASKA 536 132
NEW HAMPSHIRE 62 17
NEW JERSEY 381 146
NEW MEXICO 469 172
NEVADA 322 52
NEW YORK 2015 652
OHIO 8424 2243
OKLAHOMA 1525 401
OREGON 763 137
PENNSYLVANIA 3466 1156
RHODE ISLAND 14 2
SOUTH CAROLINA 2422 624
SOUTH DAKOTA 125 37
TENNESSEE 3803 766
TEXAS 10520 2528
UTAH 1886 432
VIRGINIA 529 159
VERMONT 29 8
WASHINGTON 1089 219
WISCONSIN 858 253
WEST VIRGINIA

533

89
WYOMING 58 26

Source: Foreclosure.com



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