RealtyTrac: New Foreclosures Up 47% From '06

RealtyTrac, an online foreclosure marketplace based in Irvine, Calif., has reported that new foreclosure filings rose 7% in March and were 47% higher than the level recorded a year earlier.The company's U.S. Foreclosure Market Report indicates that 149,150 new foreclosure properties were added to the rolls in March. "Foreclosure activity shifted into a higher gear in the first two months of 2007, and March's numbers continued that trend," said James J. Saccacio, RealtyTrac's chief executive officer. "While foreclosures are causing a major disruption in the subprime sector of the lending industry and saturating pockets of some local markets, it's important to note that U.S. foreclosure activity overall is not far above historical norms." The company said Nevada, Colorado, and California recorded the highest foreclosure rates in March. RealtyTrac can be found online at http://www.realtytrac.com.