RealtyTrac: New Foreclosures Increase

RealtyTrac, an online foreclosure marketplace based in Irvine, Calif., has reported that new foreclosure filings rose 8% in January and were 57% higher than the level recorded a year earlier. The company's U.S. Foreclosure Market Report indicates that 233,001 new foreclosure properties were added to the rolls in January. "January's foreclosure numbers demonstrate that foreclosure activity is continuing on its upward trend, substantially increasing from a year ago in many states," said James J. Saccacio, RealtyTrac's chief executive officer. "However, the 8% monthly increase in January is not as precipitous as the 19% spike the previous month." The company said Nevada, California, and Florida recorded the highest foreclosure rates in January. RealtyTrac can be found online at http://www.realtytrac.com.