TEXAS FORECLOSURE ACTIVITY UP 7 PERCENT IN APRIL

Foreclosure Activity Down 9 Percent From April 2008

 

IRVINE, Calif. – May 29, 2009 – Foreclosure filings were reported on 11,314 Texas properties in April, a 7 percent increase from the previous month, and 9 percent below the level reported for April 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1.5 million properties from over 2,200 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.

 

“Foreclosure activity in Texas increased slightly in April, but remained lower than was reported for the same time one year ago,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment in Texas remains high, with many losses reported in the manufacturing sector, though the state is generally fairing better than much of the nation in terms of job availability.”

 

Texas ranked eighth in the country in total properties with foreclosure filings for April. One in every 834 Texas housing units received a foreclosure filing during the month, the 27th highest state foreclosure rate in the nation.

 

Harris County leads state in foreclosure activity in April

Harris County led the state, reporting 2,487 properties with foreclosure filings for April. Dallas County reported 1,747 properties with foreclosure filings, the state’s second highest county total. Tarrant County came in third highest, reporting 1,204 properties with foreclosure filings. Bexar County came in fourth, documenting 1,055 properties with foreclosure filings, while the fifth highest total was in Collin County, where 459 properties with foreclosure filings were reported for the month.

 

Kaufman County post state’s top foreclosure rate in April

Kaufman County topped the list, with one in every 251 housing units receiving a foreclosure filing — 3.3 times the state average. Johnson County had the second highest foreclosure rate, with one in every 304 housing units receiving a foreclosure filing — 2.7 times the state average. Rockwall County documented the third highest foreclosure rate, where one in every 359 housing units received a foreclosure filing during the month — 2.3 times the state average.

 

State a significant contributor to nation’s foreclosure total in April

Texas accounted for 3 percent of the 342,038 properties with foreclosure filings reported nationwide in April. The national total represented a negligible increase in activity from the previous month but was still 32 percent ahead of the total reported for April 2008. One in every 374 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac Monthly U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing reported during the month — broken out by type of filing at the county, state and national level. 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 filed against a property during the month — which is extremely rare — 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.

 

About RealtyTrac Inc.

RealtyTrac (www.realtytrac.com) is the leading online marketplace of foreclosure properties, with more than 1.5 million default, auction and bank-owned listings from over 2,200 U.S. counties, along with detailed property, loan and home sales data. Hosting more than 3 million unique monthly visitors, RealtyTrac provides innovative technology solutions and practical education resources to facilitate buying, selling and investing in real estate.

Cited by thousands of media outlets each quarter — including all the major news networks, leading publications such as The Wall Street Journal, The New York Times, and USA TODAY, RealtyTrac’s foreclosure data also has been used by the Federal Reserve, FBI, U.S. Senate Joint Economic Committee and Banking Committee, U.S. Treasury Department, and numerous state housing and banking departments to help evaluate foreclosure trends and address policy issues related to foreclosures.

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Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

 

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