DALLAS-FORT WORTH FORECLOSURES DECREASE 19 PERCENT ACCORDING TO REALTYTRAC™ MARCH U.S. FORECLOSURE MARKET REPORT
Area’s Foreclosure Rate Still Highest Among Nation’s Five Largest Metros. Texas Foreclosures Down From Previous Month But Up From Year Ago
Irvine, Calif. – April 18, 2006 – Foreclosure filings decreased 19 percent in the Dallas-Fort Worth metro area in March, the second straight month the region has reported fewer new foreclosures, according to the RealtyTrac™ March 2006 U.S. Foreclosure Market Report. The 14-county metropolitan area reported 5,365 properties entering some stage of foreclosure and a foreclosure rate of one new foreclosure for every 383 households.
RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with more than 600,000 properties from over 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate, AOL Real Estate and Knight Ridder Online.
“After a big jump in January, Dallas-Fort Worth foreclosures have fallen significantly in the last two months,” said James J. Saccacio, chief executive officer of RealtyTrac. “Meanwhile, foreclosures in several other major metro areas are on the rise. If that trend continues, it won’t take too long for the Dallas-Fort Worth’s foreclosure rate to drop out of the number one spot among the nation’s top five metro areas.”
New York, Los Angeles and Chicago all reported more new foreclosures in March, but those metropolitan areas, along with Philadelphia, continued to post lower foreclosure rates than Dallas-Fort Worth. The foreclosure rate in Dallas-Fort Worth was nearly three times the national average.
Dallas County reported 2,255 properties entering some stage of foreclosure in March, a 23 percent decrease from the previous month and a foreclosure rate of one new foreclosure for every 379 households — three times the national average. Tarrant County’s foreclosure rate of one new foreclosure for every 330 households was 3.5 times the national average, and the county reported 1,713 properties entering some stage of foreclosure in March, an 11 percent decrease from the previous month.
Collin and Denton counties both documented foreclosure rates above the national average despite fewer foreclosures in March. Collin County reported 459 properties entering some stage of foreclosure, a 30 percent decrease, and Denton County reported 450 properties entering some stage of foreclosure, a 34 percent decrease.
Rockwall County maintained the highest foreclosure rate in the metropolitan area even though new foreclosures there declined 23 percent in March. The county documented a foreclosure rate of one new foreclosure for every 183 properties, more than six times the national average.
Texas foreclosures decreased for the second consecutive month in March, but with 11,951 properties entering some stage of foreclosure in March, the state still reported the most new foreclosures of any state. The state’s foreclosure rate of one new foreclosure for every 674 households was 1.7 times the national average.
Nationwide a total of 101,597 properties entered some stage of foreclosure in March, a 13 percent decrease from the previous month but a 63 percent year-over-year increase from March 2005. The U.S. documented a March foreclosure rate of one new foreclosure for every 1,138 households.
The RealtyTrac Monthly U.S. Foreclosure Market Report provides a graphical map that illustrates foreclosure percentiles by state (appended to this press release or available by request), as well as the total number of homes in some stage of foreclosure nationwide and by state over the preceding month. Data is also available at the individual county level. RealtyTrac’s report includes properties in all three phases of foreclosure: Pre-foreclosures — Notice of Default (NOD) and Lis Pendens (LIS); Foreclosures — 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).
Below are foreclosure market statistics nationwide and by state:
1 in every #households
|%Change prev. month|
|Collin County, TX||3||433||0||0||23||459||425||-30|
|Dallas County, TX||16||2,133||0||0||106||2,255||379||-23|
|Delta County, TX||0||0||0||0||0||0||—||—|
|Denton County, TX||0||434||0||0||16||450||373||-34|
|Ellis County, TX||1||70||0||0||8||79||495||-9|
|Henderson County, TX||0||2||0||0||1||3||11,978||—|
|Hood County, TX||0||2||0||0||0||2||9,553||0|
|Hunt County, TX||0||4||0||0||0||4||8,123||0|
|Johnson County, TX||0||129||0||0||46||175||264||34|
|Kaufman County, TX||0||0||0||0||55||55||475||162|
|Parker County, TX||3||45||0||0||23||71||480||-18|
|Rockwall County, TX||0||81||0||0||3||84||183||-23|
|Tarrant County, TX||10||1,627||0||0||76||1,713||330||-11|
|Wise County, TX||0||0||0||0||15||15||1,283||67|
About RealtyTrac Inc.
Ranked as the fourth-largest real estate site by Nielsen Net Ratings, RealtyTrac Inc. (www.realtytrac.com) 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 and For Sale By Owner properties, with more than 600,000 properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts more than 2 million unique visitors monthly and has been chosen to supply foreclosure data to AOL Real Estate, MSN Real Estate and Yahoo! Real Estate. For more information, visit www.realtytrac.com.
Atomic Public Relations