New Foreclosures Reported Up in October

New foreclosed residential properties rose 8% in October to 21,998, chiefly as a result of relisted federal properties, according to Foreclosure.com, an online foreclosure listing service based in Boca Raton, Fla.The nationwide inventory of foreclosed residential properties totaled 87,794, nearly unchanged from the number in September, the company reported. The increase in new foreclosures was attributed to the relisting in 11 mostly Southeastern states of properties owned by the Department of Housing and Urban Development. Brad Geisen, president and chief executive officer of Foreclosure.com, said the U.S. foreclosure level remains low compared with where it stood at the start of the year. "While there are still pockets of increasing inventory in the Midwest and Northwest, foreclosure levels in most of the country have remained flat during the past six months," he said. The company can be found online at http://www.foreclosure.com.