A record number of metro Atlanta properties are scheduled to be auctioned on the courthouse steps next month, according to numbers released Tuesday by Equity Depot, an Alpharetta company that tallies foreclosures.

The data are further evidence that metro Atlanta is in a real estate slump. Homeowners, builders, developers and commercial property owners have stopped making payments on these properties, so lenders are repossessing.

In the 13-county metro area, 7,335 properties are scheduled for courthouse auctions, Equity Depot said. The previous record was 6,992 reported in January.

The numbers declined in February and March, then shot up again this month. The difference between March and April was 1,650 properties, according to Equity Depot.

"The significance is we still have a lot of foreclosures going forward," said Joe Brannen, president and chief executive of the Georgia Bankers Association, whose members make loans to builders and developers. "That many people aren't able to make their payments."

The foreclosures are a symptom of the subprime mortgage crisis that erupted last year after many loans reset at higher rates, triggering an increase in defaults.

The problem spread to other parts of the economy. Because of the subprime mess, credit became more difficult to obtain, and the buyer pool shrunk. Builders and developers made so few sales they couldn't generate enough income to pay back their loans. So banks saw their problem-loan portfolios and repossessions swell.

In the April numbers released Tuesday, Fulton County led the way with 1,844 problem properties, followed by DeKalb with 1,284 and Gwinnett with 1,145. The state ranked 23rd in the number of foreclosures during the last quarter of 2007, according to the Mortgage Bankers Association.

Van Johnson, president of the Georgia Association of Realtors, said home buying activity has picked up in the past four weeks.

"The potential buyers are definitely back," Johnson said. "They're definitely out looking, although they are taking a bit more time than they've taken in the past."

Judge Parker, a broker with Prudential Georgia Realty in Fayetteville, added that "foreclosures are just a part of the business. We're seeing signs of improvement."

Could the foreclosure problem worsen?

"I certainly don't think anything's peaked yet," Brannen said.

 WALTER CUMMING / Staff 
FORECLOSURE RECORD 
Number of properties scheduled for auction next month in the 13-county metro area. 

2007
April: 4,221 

2008 
Jan.: 6,992 
Feb.: 5,977 
March: 5,685 
April: 7,335 
Source: Equity Depot