Texas Foreclosure Activity Falls in July

Statewide foreclosure filings down 4 percent from June

 

Foreclosure activity in Texas decreased 4 percent in July to 11,727 properties with foreclosure filings, 3 percent below the level reported in July 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Texas welcomed a slight decline in foreclosure filings in July, though the state ranked as one of the ten worst affected in terms of foreclosure activity for the month,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment within the Lone Star State is just above 8 percent, far below the national average of 9.5 percent, but not quite low enough to allow struggling homeowners to breathe easy.”

 

California continues to lead the nation, reporting 69,114 properties with foreclosure filings. Florida posted the second highest foreclosure total in the nation in July, tallying 51,557 properties with foreclosure filings. Illinois moved up a notch to third highest total, reporting 19,602 properties with foreclosure filings for the month. Reporting 18,833 properties with foreclosure filings, Michigan fell one spot to fourth place. Arizona maintained the fifth highest total, reporting 16,298 properties with foreclosure filings for the month.

 

The remaining states in the nation’s top 10 for total foreclosure activity in July were Nevada (13,727), Ohio (13,511), Georgia (12,577) and Maryland (6,961). In all, the top five accounted for 53 percent of all foreclosure filings in the nation for July.

 

The state reported the 30th highest state foreclosure rate, as one in every 819 Texas housing units received a foreclosure filing during the month.

 

Bastrop County posts top county foreclosure rate in July

Bastrop County posted the highest foreclosure rate, with one in every 283 housing units receiving a foreclosure filing in July. Kaufman County posted the second highest foreclosure rate, with one in every 306 housing units receiving a foreclosure filing during the month. Coming in third was Parker County, where one in every 366 housing units received a foreclosure filing in July.

 

Harris County had top foreclosure total for July

Harris County led the state in total foreclosure activity, reporting 2,559 properties with foreclosure filings in July. Second highest total was in Dallas County, reporting 1,822 properties with foreclosure filings. Tarrant County came in third highest, tallying 1,110 properties with foreclosure filings. Fourth highest was Bexar County, where 897 properties with foreclosure filings were reported. Travis County was fifth, reporting 484 properties with foreclosure filings for the month.

 

State a moderate contributor to nation’s monthly foreclosure total

Texas accounted for 4 percent of the 325,229 properties with foreclosure filings reported nationwide in July. Total U.S. activity increased by more than 3 percent from the previous month but was down almost 10 percent from the level reported in July 2009. One in every 397 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: 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 – July 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

42,651

54,472

87,310

47,938

92,858

325,229

397

n/a

n/a

Texas

19

0

6,345

0

5,363

11,727

819

0.48

n/a

 

 

 

 

 

 

 

 

 

 

Bastrop

2

0

37

0

50

89

283

1.40

2.90

Kaufman

0

0

55

0

49

104

306

1.30

2.68

Parker

0

0

87

0

19

106

366

1.08

2.23

Cameron

1

0

275

0

78

354

411

0.96

1.99

Fort Bend

0

0

213

0

134

347

451

0.88

1.81

 

 

Texas Top Foreclosure Totals by County – July 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg June 10

% Chg July 09

 

 

 

 

 

 

 

 

 

 

United States

42,651

54,472

87,310

47,938

92,858

325,229

397

3.63

-9.70

Texas

19

0

6,345

0

5,363

11,727

819

-3.68

-2.90

 

 

 

 

 

 

 

 

 

 

Harris

0

0

1,434

0

1,125

2,559

618

-4.48

-3.72

Dallas

0

0

883

0

939

1,822

519

14.74

20.98

Tarrant

0

0

636

0

474

1,110

617

-8.87

-8.26

Bexar

0

0

506

0

391

897

682

-15.85

-2.50

Travis

0

0

252

0

232

484

890

-3.59

-16.84

 

 

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