In a press release today, we released our national foreclosure data for August 2006. This past month’s data showed that while the number of foreclosures nationwide remains fairly balanced month-to-month, new foreclosures are up 7.3 percent from a year ago.

Key highlights of the national foreclosure activity in the month of August include:

• A total of 26,255 new residential foreclosures were reported

• The active inventory of foreclosures available for sale was 85,467

• Thirty two percent of the active foreclosure inventory was sold. This is down slightly from July (35 percent), but remains higher that the average from the first two quarters of 2006 (30 percent)

These numbers clearly illustrate that there are many opportunities to purchase foreclosed homes across the nation, as well as the fact that the market for purchasing foreclosed homes is very hot. And, with a 32 percent turnover of properties each month, the ability for prospective buyers to locate properties as soon as they are available — whether in their own backyards or across the country — becomes increasingly important.

For those looking to invest in foreclosed homes, our foreclosure data is also beginning to reveal some trends that warrant consideration when identifying potential areas to search for the best deals. For example, new foreclosures are rising quickly in the West region. From July to August, new foreclosures increased 155 percent in Arizona; 32 percent in California; and 10 percent in New Mexico.

Foreclosure.com President and CEO, Brad Gesien, commented that:

“For California homeowners, the worst could be yet to come. Home prices there are coming down from their historically high rates, buyers are drying up, and it has become difficult lately to sell a home to avoid foreclosure in the Golden State. Because of this situation, we anticipate significant increases in California’s foreclosure rates if the current housing situation continues as more and more preforeclosures convert to foreclosures.