Texas Foreclosure Activity Declines in January

Statewide filings down 11 percent from December; foreclosure rate ranks #27 nationally

 

Foreclosure activity in Texas decreased in January to 12,225 properties with foreclosure filings, an 11 percent decline from December 2009, but still up 25 percent from January 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report. With one in every 785 Texas housing units receiving a foreclosure filing in January, the state’s foreclosure rate ranked number 27 in the nation for the month.

 

“Texas foreclosures were down in January,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest decline was in auctions, which decreased 30 percent during the month. The state’s unemployment rate continues to remain two percentage points below the national average of 9.7 percent, and home sales are beginning to pick up. If these trends continue, we may see foreclosures continue to drop in 2010.”

 

As it has for many months, California continued to hold the highest number of foreclosures in the nation with 71,817 properties with foreclosure filings. Florida followed, documenting 47,069 properties with foreclosure filings in January. Arizona posted the third highest number of foreclosures, reporting 21,048 properties with foreclosure filings for the month. Illinois ranked fourth highest at 18,120 properties with foreclosure filings. Reporting 17,574 properties with foreclosure filings, Michigan had the fifth highest level of foreclosure activity during the month.

 

The rest of the nation’s top 10 states for total foreclosure activity in January were Texas (12,225), Nevada (11,854), Georgia (11,274), Ohio (11,105) and New Jersey (6,146). Activity in the top five states accounted for 56 percent of all foreclosure filings in the nation for November.

 

Hood County posts top foreclosure rate in the state for January

Hood County posted the state’s highest county foreclosure rate in January, with one in every 225 housing units receiving a foreclosure filing — 3.5 times the state average. Galveston County was second, with one in every 247 housing units receiving a foreclosure filing — 3.2 times the state average. Bastrop County came in third highest, with one in every 331 housing units receiving a foreclosure filing — 2.4 times the state average. Grimes County posted the fourth highest foreclosure rate, where one in every 344 housing units received a foreclosure filing during the month — 2.3 times the state average. Williamson County posted the fifth highest foreclosure rate, where one in every 382 housing units received a foreclosure filing during the month — twice the state average.

 

Harris County dominates state in total foreclosure filings for January

Harris County led all counties, totaling 2,762 properties with foreclosure filings for the month. Tarrant County was second highest, documenting 1,223 properties with foreclosure filings. Dallas County had the third highest foreclosure total, reporting 1,025 properties with foreclosure filings for the month. Travis County came in fourth highest, reporting 567 properties with foreclosure filings, followed by Collin County where 554 properties with foreclosure filings were reported.

 

State responsible for 4 percent of nation’s foreclosure total in January

Texas accounted for 4 percent of the 315,716 properties with foreclosure filings reported nationwide in January. Total U.S. activity declined nearly 10 percent from the previous month but was still 15 percent ahead of January 2009. One in every 409 U.S. housing units received a foreclosure filing during the month.

 

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: DefaultNotice 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 – January 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

40,456

62,850

90,451

34,311

87,648

315,716

409

n/a

n/a

Texas

18

0

6,171

0

6,036

12,225

785

0.52

n/a

 

 

 

 

 

 

 

 

 

 

Hood

0

0

1

0

91

92

225

1.80

3.49

Galveston

0

0

129

0

413

542

247

1.64

3.19

Bastrop

1

0

28

0

47

76

331

1.22

2.37

Grimes

0

0

0

0

29

29

344

1.18

2.28

Williamson

6

0

198

0

154

358

382

1.06

2.05

 

 

 

Texas Top Foreclosure Totals by County – January 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Dec 09

% Chg Jan 09

 

 

 

 

 

 

 

 

 

 

United States

40,456

62,850

90,451

34,311

87,648

315,716

409

-9.67

15.06

Texas

18

0

6,171

0

6,036

12,225

785

-11.46

25.33

 

 

 

 

 

 

 

 

 

 

Harris

0

0

1,442

0

1,320

2,762

573

-9.47

52.34

Tarrant

0

0

0

0

1

1,223

560

-11.82

5.07

Dallas

0

0

866

0

159

1,025

923

-45.16

-6.99

Travis

0

0

289

0

278

567

760

6.58

26.28

Collin

0

0

298

0

256

554

517

-25.74

14.46

 

 

 

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