Texas Foreclosure Activity Falls in April

Statewide filings down 16 percent from March; rate #28 nationally

 

Monthly foreclosure activity in Texas decreased 16 percent from the previous month to 13,133 properties with foreclosure filings. This latest state total also represents a 16 percent year-over-year increase in foreclosure filings from April 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The state ranked as the 28th highest state foreclosure rate in the nation with one in 731 Texas housing units receiving a foreclosure filing during the month.

 

“Texas foreclosures fell during April,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest decline was in auctions, which fell 27 percent for the month. The state’s unemployment rate continues to remain below the national average and home sales have picked up recently. If these trends persist, we may see foreclosures continue to fall here this year.”

 

California continued to lead the nation in highest level of foreclosure activity in April with 69,727 properties with foreclosure filings. Florida followed, reporting 48,385 properties with foreclosure filings for the month. Michigan rose to third highest, documenting 19,173 properties with foreclosure filings. Illinois came in at fourth highest, reporting 18,870 properties with foreclosure filings. Nevada rose two spots to fifth, tallying 16,217 properties with foreclosure filings.

 

The remaining states in the nation’s top 10 for total foreclosure activity in April were Arizona (16,088), Georgia (13,963), Texas (13,133), Ohio (11,936) and Virginia (7,065). In all, the top 10 accounted for 70 percent of all foreclosure filings in the nation for April.

 

Kaufman County posts top foreclosure rate for April

Kaufman County posted the highest county foreclosure rate in Texas for April, with one in every 187 housing units receiving a foreclosure filing — 3.9 times the state average. Parker County came in second, with one in every 231 housing units receiving a foreclosure filing —3.2 times the state average. Bastrop County was third, with one in every 239 housing units receiving a foreclosure filing — three times the state average.

 

Harris County led the state in total foreclosures for April

Harris County continued to lead the way, reporting 2,739 properties with foreclosure filings for the month. Dallas County remained second highest, documenting 1,676 properties with foreclosure filings. Reporting 1,405 properties with foreclosure filings for the month, Tarrant County ranked third highest. Bexar County was fourth, reporting 1,004 properties with foreclosure filings. A total 594 properties with foreclosure filings were reported in Collin County, the fifth highest county total in April.

 

State contributes 4 percent to nation’s month foreclosure total

Texas accounted for 4 percent of the 333,837 properties with foreclosure filings reported nationwide in April. Total U.S. activity declined more than 9 percent from the previous month and was 2 percent below the level reported in April 2009. One in every 387 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 – April 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

42,889

60,873

96,770

40,873

92,432

333,837

387

n/a

n/a

Texas

18

0

7,559

0

5,556

13,133

731

0.53

n/a

 

 

 

 

 

 

 

 

 

 

Kaufman

0

0

73

0

97

170

187

2.07

3.91

Parker

0

0

91

0

77

168

231

1.67

3.16

Bastrop

2

0

74

0

29

105

239

1.61

3.05

Williamson

7

0

263

0

157

427

321

1.21

2.28

Kendall

0

0

29

0

8

37

367

1.05

1.99

 

 

 

Texas Top Foreclosure Totals by County – April 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Jan 10

% Chg Feb 09

 

 

 

 

 

 

 

 

 

 

United States

42,889

60,873

96,770

40,873

92,432

333,837

387

-9.05

-2.40

Texas

18

0

7,559

0

5,556

13,133

731

-15.55

16.08

 

 

 

 

 

 

 

 

 

 

Harris

0

0

1,611

0

1,128

2,739

578

0.67

1.27

Dallas

0

0

1,011

0

665

1,676

565

0.68

1.29

Tarrant

0

0

829

0

576

1,405

488

0.79

1.50

Bexar

0

0

586

0

418

1,004

610

0.63

1.20

Collin

0

0

328

0

266

594

482

0.80

1.52

 

 

 

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