RealtyTrac: Foreclosure Inventory Dips

The national inventory of foreclosures decreased slightly in February despite widespread expectations that foreclosures will rise in 2005, according to RealtyTrac, an online marketplace for foreclosure properties based in Lake Forest, Calif.The company's Monthly U.S. Foreclosure Market Report indicates that the latest foreclosure inventory totaled 53,222. "On the other hand, certain regions appear to be experiencing higher foreclosure rates," said Jim Saccacio, RealtyTrac's chief executive officer. "Florida and Colorado had the largest number of foreclosures, more than three times the national average." In Texas, the company said, more than 50% of all foreclosures in February took place in three counties: Bexar (San Antonio), with 10.1%; Dallas, 16.4%; and Harris (Houston), 25.3%. RealtyTrac can be found online at http://www.realtytrac.com.