Foreclosure Home Press Releases DALLAS FORECLOSURE ACTIVITY DECREASES 3 PERCENT IN MAY

DALLAS FORECLOSURE ACTIVITY DECREASES 3 PERCENT IN MAY

Print Email
Comments Add Comment

Foreclosure Rate Drops to Second Highest Among Nation’s Top Five Metros
Texas Foreclosure Activity Down 16 Percent

IRVINE, Calif. – June 30, 2007 – The eight-county Dallas metropolitan area reported 3,612 foreclosure filings in May, a 3 percent decrease from the previous month and lowering the city’s foreclosure rate from the top spot among five of the nation’s largest metropolitan areas, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The metro area’s foreclosure rate of one foreclosure filing for every 369 households was 1.8 times the national average and higher than the rates in New York, Philadelphia and Chicago, but was lower than the foreclosure rate in Los Angeles.

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 900,000 properties from nearly 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.

“Although the foreclosure rate in Dallas is still relatively high, the recent downward trend in the city’s foreclosure activity runs counter to the nationwide trend and the trend in many other major metropolitan areas,” said James J. Saccacio, chief executive officer of RealtyTrac. “Dallas did not experience the dramatic spike in home price appreciation witnessed in other markets over the past few years, making housing more affordable there. And Dallas continues to maintain a healthy job market, with an unemployment rate below the national average. Those two factors should keep the city’s foreclosure rate steady, if not heading lower, for the remainder of the year.”

Dallas County foreclosure activity decreases 9 percent
Dallas County reported 2,146 foreclosure filings in May, the most of any metro county but down 9 percent from the previous month. The county’s foreclosure rate of one new foreclosure filing for every 398 households was fourth highest among metro counties and 1.6 times the national average.

With 731 foreclosure filings reported in May, Collin County registered the metro area’s second highest total. The county’s foreclosure activity increased 31 percent from the previous month, giving it a foreclosure rate of one foreclosure filing for every 267 households — fourth highest in the metro area and 2.5 times the national average. Denton County reported 341 foreclosure filings during the month, the third highest county total in the metro area.

Kaufman County posts metro’s top foreclosure rate
Kaufman County jumped past Rockwall County to claim the Dallas metro’s top spot in terms of foreclosure rate in May. The county reported 143 foreclosure filings, a 91 percent increase from the previous month and a foreclosure rate of one foreclosure filing for every 183 households — 3.6 times the national average. Rockwall County’s foreclosure activity decreased 15 percent in May and the county’s foreclosure rate of one foreclosure filing for every 194 households slipped to second highest in the metro area.

With one foreclosure filing for every 254 households, Ellis County documented the metro’s third highest county foreclosure rate in May. The county reported 154 foreclosure filings, up 50 percent from the previous month.

Texas foreclosure activity decreases 16 percent
Texas reported 9,653 foreclosure filings in May, down 16 percent from the previous month and down 33 percent from May 2006. The state’s total was fourth highest behind the totals in California, Florida and Ohio, but the state’s foreclosure rate of one foreclosure filing for every 834 households still registered below the national average.

A total of 176,137 foreclosure filings were reported nationwide in May, a 19 percent increase from the previous month and a 90 percent increase from May 2006. The national foreclosure rate was one foreclosure filing for every 656 households.

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of foreclosure filings nationwide, statewide and by county in the Dallas-Plano-Irving Metropolitan Statistical Area Division over the preceding month. RealtyTrac’s report includes documents filed in all three phases of foreclosure: Defaults — Notice of Default (NOD) and Lis Pendens (LIS); Auctions — Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank).

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

Dallas Area Foreclosure Market Statistics by County – May 2007

Area NODs NTSs NFSs LISs REOs Total 1 for every #HH /Natl Avg

United States

55,615

56,481

9,760

25,733

28,548

176,137

656

--

Texas

139

6,652

0

0

2,862

9,653

834

0.79

Dallas MSAD

37

2,748

0

0

827

3,612

369

1.78

Collin County, TX

0

687

0

0

44

731

267

2.46

Dallas County, TX

26

1,550

0

0

570

2,146

398

1.65

Delta County, TX

0

0

0

0

0

0

 

0.00

Denton County, TX

4

247

0

0

90

341

493

1.33

Ellis County, TX

1

125

0

0

28

154

254

2.59

Hunt County, TX

1

3

0

0

14

18

1,805

0.36

Kaufman County, TX

2

71

0

0

70

143

183

3.59

Rockwall County, TX

3

65

0

0

11

79

194

3.38

About RealtyTrac Inc.
Ranked as the third largest real estate site by MediaMetrix and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastest-growing private companies, RealtyTrac Inc. (http://www.realtytrac.com/gateway_co.asp?accnt=137300), is the leading online marketplace for foreclosure properties, providing all the resources that home seekers, investors and real estate agents need to locate, evaluate and buy properties below market value.

Founded in 1996, RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure, foreclosure, For Sale By Owner, resale and new construction properties, with more than 1 million properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts nearly 3 million unique visitors monthly and has been chosen to supply foreclosure data to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal. For more information, visit http://www.realtytrac.com/gateway_co.asp?accnt=137300.

###

Media Contacts:
Michelle Schneider
949.502.8300 Ext. 139
michelle.schneider@realtytrac.com

Christine Stricker
949.502.8300 Ext. 268
christine.stricker@realtytrac.com

Detailed & Historical Data:
Tyler White
949.502.8300 Ext. 158
tyler.white@realtytrac.com


Print Email < Back to Press Releases
Printed from www.RealtyTrac.com

Comments

Add Your Comment

You must be logged in to leave a comment. Login | Register

Submit


Search Press Releases