Texas Foreclosure Activity Among Nation’s Highest in 2009

Statewide filings up 4 percent from 2008; Monthly activity up 14 percent from November

 

Texas tallied 100,045 properties with foreclosure filings in 2009, the ninth highest state total in the nation, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The yearly total represents a 4 percent increase from the total reported for 2008, and is 18 percent higher than the level reported for all of 2007. With one in every 94 housing units receiving a foreclosure filing, Texas’ foreclosure rate ranked 29th highest in the nation for the year.

 

Texas was sixth highest in foreclosure activity in December, reporting 13,807 properties with foreclosure filings, a 14 percent increase over the previous month, and a 45 percent increase from December 2008. The state’s foreclosure rate — one in every 683 housing units received a foreclosure filing — ranked 25th in the nation for the month.

 

Texas continued to rank among the nation’s top ten in total foreclosures for 2009 and for December,” said James J. Saccacio, chief executive officer of RealtyTrac. “While the state’s unemployment rate remains below the national average, it did grow nearly 3 percent during the year. On the other hand, its home values did not decline to as far as most others states, and home sales really began to pick up toward the end of the year. If these trends continue, we may see foreclosures begin to decrease in 2010.”

 

California came in first for the year, reporting 632,573 properties with foreclosure filings in 2009. Second-place Florida reported 516,711 properties with foreclosure filings, and Arizona came in a distant third, reporting 163,210 properties with foreclosure filings. Illinois took fourth place, documenting 131,132 properties with foreclosure filings. Fifth place went to Michigan, which reported 118,302 properties with foreclosure filings.

 

The remaining states in the nation’s top 10 for total foreclosure filings for 2009 were Nevada (112,097), Georgia (106,110), Ohio (101,614), Texas (100,045) and New Jersey (63,208). Activity in the top five states accounted for 55 percent of all foreclosure filings in the nation for 2009.

 

Kaufman County posts state’s highest foreclosure rate for 2009

Kaufman County posted the highest county foreclosure rate in the state for the year, with one in every 34 housing units receiving a foreclosure filing in 2009. Johnson County had the second highest foreclosure rate, with one in every 40 housing units receiving a foreclosure filing. Rockwall and Bastrop Counties came in third, each with one in every 41 housing units receiving a foreclosure filing. Fort Bend County was fourth highest with one in every 57 housing units receiving a foreclosure filing.

 

Harris County posts state’s highest total foreclosure filings in 2009

Harris County led Texas in total foreclosures in 2009, reporting a total of 20,030 properties with foreclosure filings for the year. Dallas County came in second, documenting 13039 properties with foreclosure filings. Tarrant County had the third highest total in the state, reporting 10,204 properties with foreclosure filings for the year. Bexar County was fourth highest, reporting 8,311 properties with foreclosure filings, followed by Collin County in fifth place, tallying 4,520 properties with foreclosure filings for all of 2009.

 

State contributes 4 percent to nation’s foreclosure total in 2009

Texas accounted for 4 percent of the 2,824,674 properties with foreclosure filings reported nationwide in 2009. Total U.S. activity increased more than 21 percent over the level reported for all of 2008. One in every 45 U.S. housing units received a foreclosure filing during the year.

 

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: Default Notice of Default (NOD) and Lis Pendens (LIS); Auction 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). If more than one foreclosure document is received for a property during the month, only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 

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

 

 

Texas Top Foreclosure Rates by County: Year-End 2009

 

County

Total Properties with Filings

% Housing Units

1/Every X HU

%Chg

from 2008

% Chg

from 2007

 

 

 

 

 

 

United States

2,824,674

2.21

45

21.21

119.67

Texas

100,045

1.06

94

4.04

18.44

 

 

 

 

 

 

Kaufman

928

2.94

34

5.69

25.92

Johnson

1,311

2.49

40

48.64

95.09

Bastrop

607

2.44

41

8.20

37.33

Rockwall

614

2.44

41

1.32

20.87

Fort Bend

2,609

1.75

57

-16.27

-1.47

 

 

Texas Top Foreclosure Totals by County: Year-End 2009

 

County

Total Properties with Filings

% Housing Units

1/Every X HU

% Chg  

from 2008

% Chg

from 2007

 

 

 

 

 

 

United States

2,824,674

2.21

45

21.21

119.67

Texas

100,045

1.06

94

4.04

18.44

 

 

 

 

 

 

Harris

20,030

1.30

77

-11.40

11.37

Dallas

13,039

1.39

72

-4.56

-18.78

Tarrant

10,204

1.51

66

-0.18

-7.39

Bexar

8,311

1.38

73

21.88

23.90

Collin

4,520

1.63

61

10.84

12.21

 

 

Texas Top Foreclosure Rates by County – December 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

45,074

71,911

105,527

37,825

92,182

349,519

366

n/a

n/a

Texas

14

0

8,825

0

4,968

13,807

683

0.54

n/a

 

 

 

 

 

 

 

 

 

 

Hood

0

0

4

0

97

101

203

1.80

3.36

Johnson

0

0

125

0

74

199

265

1.38

2.58

Kaufman

0

0

60

0

58

118

268

1.36

2.55

Bastrop

5

0

37

0

39

81

307

1.19

2.22

Collin

0

0

542

0

204

746

371

0.99

1.84

 

 

Texas Top Foreclosure Totals by County – December 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Nov 09

% Chg Dec 08

 

 

 

 

 

 

 

 

 

 

United States

45,074

71,911

105,527

37,825

92,182

349,519

366

13.99

15.20

Texas

14

0

8,825

0

4,968

13,807

683

14.15

45.41

 

 

 

 

 

 

 

 

 

 

Harris

0

0

2,078

0

973

3,051

506

0.72

1.34

Dallas

0

0

1,222

0

647

1,869

502

0.72

1.36

Tarrant

0

0

954

0

433

1,387

486

0.75

1.40

Bexar

0

0

716

0

425

1,141

529

0.69

1.29

Collin

0

0

542

0

204

746

371

0.99

1.84

 

 

 

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