DALLAS-FORT WORTH FORECLOSURES INCREASE SECOND STRAIGHT MONTH ACCORDING TO REALTYTRAC™ MAY U.S. FORECLOSURE MARKET REPORT
Texas Foreclosures Up Ten Percent
State Posts Highest Number of Foreclosures and Third-Highest U.S. Foreclosure Rate
Irvine, Calif. – June 26, 2006 – Foreclosure filings increased more than 8 percent in the Dallas-Fort Worth metro area in May, the second straight month of increasing foreclosure activity in the region, according to the RealtyTrac™ 2006 Monthly U.S. Foreclosure Market Report. The 14-county metropolitan area recorded 7,069 properties entering some stage of foreclosure and a foreclosure rate of one foreclosure filing for every 290 households — more than four times the national average.
RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with nearly 650,000 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.
“Although foreclosures in the Dallas-Fort Worth area dipped earlier this year, the region’s foreclosure rate has jumped more than 25 percent over the last two months,” said James J. Saccacio, chief executive officer of RealtyTrac. “The trend was similar statewide, where the foreclosure rate rose to its highest level since January.”
Los Angeles, New York, Philadelphia and Chicago all posted lower foreclosure rates than Dallas-Fort Worth in May. Among the nation’s five largest metropolitan areas, Dallas-Fort Worth and Chicago were the only two that documented foreclosure rates above the national average in May.
Dallas County reported 3,172 properties entering some stage of foreclosure, the most of any county in the region and an increase of nearly 19 percent from the previous month. The county’s foreclosure rate of one new foreclosure filing for every 269 households was more than four times the national average.
Tarrant County’s foreclosure rate of one new foreclosure filing for every 259 households was also more than four times the national average. The county reported 2,186 properties entering some stage of foreclosure, an increase of nearly 14 percent from the previous month.
Rockwall County continued to register the highest foreclosure rate in the metro area despite a 31 percent decrease in foreclosure activity. The county reported 78 properties entering some stage of foreclosure, a foreclosure rate of one new foreclosure filing for every 197 households — more than six times the national average.
Texas reported 14,506 properties entering some stage of foreclosure in May, an increase of nearly 5 percent from the previous month and the most foreclosure filings reported by any state. With one new foreclosure filing for every 555 households, the state’s foreclosure rate was more than two times the national average and third highest among the states for the second month in a row.
Nationwide a total of 92,746 properties entered some stage of foreclosure in May, an increase of less than 2 percent from the previous month but still a 28 percent year-over-year increase from May 2005, and the nation documented a foreclosure rate of one new foreclosure filing for every 1,247 U.S. households. May’s increase ended two months of declining foreclosure activity nationwide.
The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and in the nation’s five largest Metropolitan Statistical Areas over the preceding month. 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 re-purchased by a bank).
Dallas-Fort Worth Foreclosure Market Statistics by County – May 2006
1 in every #households
|%Change prev. month|
|Dallas-Fort Worth Metro||43||5,144||0||0||1,882||7,069||290||8.454|
|Collin County, TX||6||600||0||0||134||740||263||5.866|
|Dallas County, TX||18||2,150||0||0||1,004||3,172||269||18.801|
|Delta County, TX||0||0||0||0||0||0||—||—|
|Denton County, TX||6||413||0||0||134||553||304||-0.896|
|Ellis County, TX||0||62||0||0||12||74||528||-63.184|
|Henderson County, TX||0||1||0||0||0||1||35,935||-75.000|
|Hood County, TX||1||0||0||0||5||6||3,184||-33.333|
|Hunt County, TX||0||0||0||0||1||1||32,490||-80.000|
|Johnson County, TX||0||94||0||0||70||164||282||-3.529|
|Kaufman County, TX||0||15||0||0||5||20||1,307||-64.286|
|Parker County, TX||0||55||0||0||17||72||473||-10.000|
|Rockwall County, TX||0||74||0||0||4||78||197||-30.973|
|Tarrant County, TX||12||1,680||0||0||494||2,186||259||13.795|
|Wise County, TX||0||0||0||0||2||2||9,621||-93.750|
About RealtyTrac Inc.
Ranked as the third largest real estate site by MediaMetrix, 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, 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 AOL Real Estate, MSN Real Estate and Yahoo! Real Estate. For more information, visit www.realtytrac.com.
Atomic Public Relations