New Foreclosures Drop

RealtyTrac, an online foreclosure marketplace based in Irvine, Calif., has reported that the number of new properties in some stage of foreclosure decreased 12% nationwide in November.The company's Monthly U.S. Foreclosure Market Report indicates that 71,606 new foreclosure properties were added to the rolls in November. "After reaching their highest level of the year in October, foreclosures in November retreated to closer to the levels we saw earlier this fall and in the summer," said James J. Saccacio, RealtyTrac's chief executive officer. "While fewer foreclosures in most of the Gulf Coast states contributed to this, it also continues the trend of seeing the national foreclosure rate drop the month after a significant spike." The company said Florida was the only Gulf Coast state with increasing foreclosures in November, with 8,872, an increase of 16% and the most foreclosures reported by any state. RealtyTrac can be found online at http://www.realtytrac.com.