Foreclosures Up Slightly, Dot-Com Says

The inventory of foreclosed residential properties rose less than 1% in August, according to Foreclosure.com, an online foreclosure listing service based in Boca Raton, Fla.There were 22,733 new foreclosed residential properties listed in the United States in August, and such properties totaled 72,303 overall, the company reported. The data indicate that "new foreclosure activity has leveled off across the country, which is a strong indicator of the sustained strength of the real estate market," said Greg Sullivan, vice president and co-founder of Foreclosure.com. The data also show that the inventory of active properties "has remained relatively flat for the third straight month, indicating lenders have been successful in maintaining a balance of foreclosure sales against new foreclosure inventory," he said. The company can be found online at http://www.foreclosure.com.