U.S. foreclosures fall in February mortgagepress.comforeclosures, residential properties, February 2005
According to data released by online foreclosure listing
service, Foreclosure.com, 18,824 new foreclosed residential
properties were listed for sale in the U.S. during February 2005.
The total number of U.S. residential foreclosure properties
available for sale in the U.S. during the month of February was
72,877. Compared to January 2005, these numbers indicate a seven
percent drop in inventory for both new foreclosures and the total
number of foreclosures available for sale in the U.S.
"Following a year of heavy growth in foreclosure inventory
levels in many parts of the county, foreclosures have leveled off
in the first two months of 2005," said Brad Geisen, Foreclosure.com
president and CEO. "The seven percent drop in both new and total
foreclosures in February can largely be attributed to the short
month. Many states with historically high inventories such as
Texas, South Carolina, Pennsylvania, Missouri and Florida saw a
higher than average decline in February. As a result of this
decline, prospective homebuyers should track new foreclosures on a
daily basis in order to identify strong property investment
opportunities as soon as they arise."
For more information, visit www.foreclosure.com.