Reports about the number of defaults, preforeclosures and foreclosures received a tremendous amount of media coverage this week. Generally, multiple sources of information are positive, helping confirm the statistics and providing different perspectives on a topic.

But, this week was different.

This past Tuesday, Foreclosure.com released its monthly data analysis for August 2006, which revealed a slight decline in the number of foreclosures across the United States. On the same day, RealtyTrac published a report that showed a 24 percent increase in the number of foreclosures.

We knew this would happen … and we are glad it did.

That’s because these contradicting statements are dangerous on many levels. And now that several media outlets have publicly identified the problem and called attention to it in their stories, it all but assures that the investors and potential homebuyers who use Foreclosure.com are indeed receiving the best information.

Here’s a snip from an article today on Inman News (registration required):

RealtyTrac shouted this week that the number of homes in any stage of foreclosure had jumped 24 percent from July and 53 percent from last year.

Hang on to your door handle.

Foreclosure.com, tracking only completed foreclosures, says foreclosures fell 6.7 percent in August, only 7.3 percent higher than last year.

Who is right - or most descriptive?

The Mortgage Bankers Association’s study of 42 million loans confirms Foreclosure.com’s picture: current-quarter delinquent payments and foreclosures are unchanged from last spring.

Naturally, it is nice when an independent third-party source validates the fact that Foreclosure.com reports more accurate data; especially, when it is an authoritative source like the Mortgage Bankers Association.

However, we can’t say that we are surprised. Providing our customers and business partners with the most accurate foreclosure data is what differentiates Foreclosure.com from the competition.

It is something that we work hard at and take great pride in. And, we are thrilled to see that more and more high-profile media outlets and respected real estate organizations are taking note.

We will go into more detail in our next post about the specific reasons our data is the most accurate representation of the national foreclosure market.

Stay tuned.