US Foreclosures Way Up, Company Says

RealtyTrac's October 2006 U.S. Foreclosure Market Report shows that 115,568 properties nationwide entered some stage of foreclosure during the month, the most reported in any month so far this year and an increase of 42 percent from October 2005. The report also shows a national foreclosure rate of one new foreclosure filing for every 1,001 U.S. households, the highest monthly foreclosure rate reported so far this year.

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 700,000 properties from nearly 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal's Real Estate Journal.

"So far this year more than 1 million properties have entered some
stage of foreclosure nationwide, up 27 percent from the same time last
year," says James Saccacio, chief executive officer of RealtyTrac.
"Monthly foreclosure filings hit their highest mark of the year so far in
October, mirroring the trend from last year, when the most foreclosures of
the year were also reported in October. Our data from the last three months
shows that foreclosures are definitely trending upward, putting more
pressure on an already strained housing market, and placing buyers and
investors in the driver's seat when it comes to negotiating home
purchases."

For the eighth consecutive month Colorado documented the highest US state foreclosure rate -- one new foreclosure filing for every 327 households -- thanks to a 25 percent month-over-month increase in foreclosure activity. The state reported 5,592 properties entering some stage of foreclosure during the month, more than twice the number reported in October 2005.

With one new foreclosure filing for every 389 households, Nevada documented the nation's second highest state foreclosure rate for the fifth straight month as foreclosures continued to climb. The state reported 2,229 properties entering some stage of foreclosure, an increase of 16 percent from the previous month and more than six times the number reported in October 2005.

Thanks to a 33 percent month-over-month increase, Georgia's foreclosure
rate -- one new foreclosure filing for every 449 households -- jumped to
third highest in October after being fifth highest the previous month. The
state reported 6,895 properties entering some stage of foreclosure, almost
twice the number reported in October 2005.

Other states reporting foreclosure rates among the nation's 10 highest
were Michigan, Illinois, Florida, Ohio, Tennessee, New Jersey and Utah.

California reports highest number of foreclosures for second straight
month, the report says.



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