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RealtyTrac Reports an Increase In Foreclosed Property on Market.
Irvine, CA -- The number of new properties in foreclosure increased nationwide for the second month in a row, according to a report released by Irvine, Calif.-based online marketplace for foreclosure properties RealtyTrac.
RealtyTrac's April 2005 Monthly U.S. Foreclosure Market Report showed that 64,057 properties saw foreclosure in April, up 2.6% from the 62,422 in March. This increase was markedly lower than the increase in March, possibly indicating a one-month temporary spike in the foreclosure market rather than the beginning of a trend.
The report showed that the highest foreclosure rates in the country for April was in the Sun Belt.
Texas beat Florida by a narrow margin as the state with the highest rate of property in some stage of foreclosure, with one property in foreclosure for every 694 households. In Florida, which had the highest rate of foreclosure in the previous two months, there was one property in foreclosure for every 719 households.
Both states' foreclosure rates were more than 2.5 times the national average.
"April continues a trend we've seen over the last few months where Texas and Florida have consistently produced an above-average number of properties in some stage of foreclosure," said James J. Saccacio, CEO of RealtyTrac.
Texas is also the home of the county with the highest foreclosure rate in the ...
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