Foreclosure Home Housing & Foreclosure Reports Texas Foreclosure Activity Rises in February

Texas Foreclosure Activity Rises in February

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Statewide filings up 5 percent from January

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 9,554 Texas properties in February, a 5 percent increase from January, but still 17 percent below the level reported for February 2011, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

Texas had the 22nd highest foreclosure rate, reporting one in every 1,044 housing units with a foreclosure filing in February.

California continues to lead the nation in terms of total properties with foreclosure filings by a large margin, reporting 48,422 properties with foreclosure filings. Second ranked Florida reported 26,337 properties with foreclosure filings during the month. Third place was Illinois, where 13,298 properties with foreclosure filings were reported. Georgia moved up to the fourth highest total, reporting 12,356 properties with foreclosure filings while Michigan dropped a spot to fifth place, tallying 10,467 properties with foreclosure filings.

The remaining states that make up the nation’s top 10 in February include Texas, Ohio (9,445), Arizona (9,131), Pennsylvania (4,494) and Wisconsin (4,403). The top 10 accounted for 71 percent of the nation’s total foreclosure activity for the month.

Rockwall County posts top foreclosure rate in the state for February
 One in every 430 housing units in Rockwall County had a foreclosure filing in February — 1.5 times the national average and 2.4 times the state average — the highest foreclosure rate of all Texas counties for the month. Fort Bend County had the second highest rate of one in every 578 housing units with a foreclosure filing during the month — 1.1 times the national average and 1.8 times the state average. Williamson County had the third highest rate of one in every 596 housing units with a foreclosure filing during the month — 1.1 times the national average and 1.8 times the state average.

Harris County has top foreclosure total in February
 Harris County led the state by a large margin and had the highest foreclosure total, reporting 2,397 properties with foreclosure filings for the month. Dallas County was second highest, reporting 1,325 properties with foreclosure filings. Tarrant County was third, reporting 1,044 properties with foreclosure filings. Fourth highest was Bexar County, recording 792 properties with foreclosure filings. Collin County was fifth, tallying 414 properties with foreclosure filings for the month.

State the nation’s sixth largest contributor to nation’s foreclosure total in February
 Texas accounted for 5 percent of the 206,900 properties with foreclosure filings reported nationwide in February. Total U.S. activity decreased by 2 percent from January and was down over 8 percent from the level reported in February 2011. One in every 637 U.S. housing units received a foreclosure filing during the month.

“February’s numbers point to a gradually rising foreclosure tide as some of the barriers that have been holding back foreclosures are removed,” said Brandon Moore, CEO of RealtyTrac. “Although national foreclosure activity was pushed lower by decreases in a handful of larger states, 21 states posted annual increases in foreclosure activity, the most states with annual increases since November 2010.

“The foreclosure and mortgage settlement filed in court earlier this week will help pave the way to a properly functioning foreclosure process by providing a clear roadmap for necessary foreclosures,” Moore continued. “That should result in more states posting annual increases in the coming months. Not surprisingly, many of the biggest annual increases in February were in states with the more bureaucratic judicial foreclosure process, which resulted in a larger backlog of foreclosures built up over the last 18 months in those states.”

Texas Top Foreclosure Rates By County – February 2012

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

23,058

35,828

60,700

23,480

63,834

206,900

637

n/a

n/a

Texas

0

0

5,455

0

4,099

9,554

1,044

0.61

n/a

 

 

 

 

 

 

 

 

 

 

Rockwall

0

0

43

0

22

65

430

1.48

2.43

Fort Bend

0

0

227

0

114

341

578

1.10

1.81

Williamson

0

0

150

0

123

273

596

1.07

1.75

Kaufman

0

0

44

0

20

64

599

1.06

1.74

Kendall

0

0

14

0

9

23

611

1.04

1.71


Texas Top Foreclosure Totals by County – February 2012

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Jan 12

% Chg Feb 11

 

 

 

 

 

 

 

 

 

 

United States

23,058

35,828

60,700

23,480

63,834

206,900

637

-1.92

-8.09

Texas

0

0

5,455

0

4,099

9,554

1,044

5.16

-17.37

 

 

 

 

 

 

 

 

 

 

Harris

0

0

1,335

0

1,062

2,397

667

10.66

2.13

Dallas

0

0

722

0

603

1,325

712

-5.09

-23.72

Tarrant

0

0

624

0

420

1,044

685

0.10

-0.57

Bexar

0

0

527

0

265

792

837

2.59

-18.43

Collin

0

0

273

0

141

414

727

6.15

-15.16

 


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