Residential foreclosure rise slightly

Boca Raton, FL, Sep. 15 (UPI) -- Foreclosure.com Wednesday reported the number of foreclosed U.S. residential properties during August rose less than 1 percent from July.

Foreclosure.com is an online foreclosure listing service.

Overall, the total number of foreclosed properties available in the month of August was 72,303, an increase of about 1 percent from July.

"The August data shows that new foreclosure activity has leveled off across the country, which is a strong indicator of the sustained strength of the real estate market," said Greg Sullivan, vice president and co-founder, Foreclosure.com.

"In addition, the data shows that inventory of active properties has remained relatively flat for the third straight month, indicating lenders have been successful in maintaining a balance of foreclosure sales against new foreclosure inventory. One reason for this is that our extensive network of lenders benefit from the visibility that their properties gain from being listed on Foreclosure.com, resulting in reduced sales cycles due to exposure to an interested, national audience," he added.