RealtyTrac: New Foreclosures Hit '06 Peak

RealtyTrac, an online foreclosure marketplace based in Irvine, Calif., has reported that new properties entering some stage of foreclosure reached the highest level of the year in October and were 42% higher than the level recorded a year earlier.The company's U.S. Foreclosure Market Report indicates that 115,568 new foreclosure properties were added to the rolls in October. "So far this year more than 1 million properties have entered some stage of foreclosure nationwide, up 27% from the same time last year," said James J. Saccacio, RealtyTrac's chief executive officer. "Monthly foreclosure filings hit their highest mark of the year so far in October, mirroring the trend from last year, when the most foreclosures of the year were also reported in October." The company said Colorado, Nevada, and Georgia recorded the highest foreclosure rates in October. RealtyTrac can be found online at http://www.realtytrac.com.