Foreclosure.com: Inventory Dips 5%

The nationwide inventory of foreclosed residential properties declined 5% in April, according to Foreclosure.com, an online foreclosure listing service based in Boca Raton, Fla.There were 27,417 new foreclosed residential properties listed in the United States in April, and such properties totaled 76,786 overall, the company reported. "The slight decrease in foreclosure inventory represents a stabilization in the housing market over the last month," said Brad Geisen, president and chief executive officer of Foreclosure.com. "The continued high inventory reflects the current interest rates and the leveling off of home values. Foreclosures remain prevalent in areas of the country where home values continue not to rise, such as Georgia, Indiana, Ohio, Texas, and Michigan." The company can be found online at http://www.foreclosure.com.