Foreclosed properties in Mo., Ill., more than double in December

The number of new foreclosed residential properties more than doubled in Missouri and Illinois from December 2003 to December 2004, according to data released by Foreclosure.com.

Greg Sullivan, vice president and co-founder of the Boca Raton, Fla.-based online foreclosure listing service said the data show that the foreclosure investment opportunity is peaking.

"A decline in delinquency rates and strong economic indicators in the second half of 2004 will likely result in a dip in new foreclosure inventory during 2005," he said, in a statement.

In Missouri, there were 1,049 new foreclosed residential properties in December 2004, up from 491 in December 2003. There were 2,622 total foreclosed residential properties in the month, up from 1,689 in the same month in 2003.

In Illinois, there were 1,346 new foreclosed residential properties in December 2004, up from 671 in December 2003. Total foreclosed residential properties reached 2,929 in the month, up from 2,510 in the same month in 2003.