Foreclosure.com: New Foreclosures Inch Up

New foreclosed residential properties crept up 1.4% in June to 23,057, according to Foreclosure.com, an online foreclosure listing service based in Boca Raton, Fla.The nationwide inventory of foreclosed residential properties totaled 75,083, up 1.4% from that of May, the company reported. "The time period from April through August is a strong buying period for properties in preforeclosure, and therefore the number of foreclosed properties tends to be at its lowest point of the year," said Brad Geisen, president and chief executive officer of Foreclosure.com. "However, when foreclosure inventory remains steady or increases in the summer, as is the case this year, its indicates that investment in preforeclosure properties is not keeping pace with the number of properties entering the foreclosure process." The company can be found online at http://www.foreclosure.com.