TEXAS FORECLOSURES DECLINE 16 PERCENT IN FEBRUARY

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Down 9 Percent From a Year Ago; Rate in Nation’s Top 10

 

IRVINE, Calif. – March 26, 2007 – Texas reported 12,386 foreclosure filings in February, the third highest total in the nation. This represents a 16 percent decline from the previous month and a 9 percent decrease from the total reported for the same month last year, according to the latest RealtyTrac™ U.S. Foreclosure Market Report. Tallying one new foreclosure filing for every 650 households, the state’s foreclosure rate ranked eighth highest in the nation.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 850,000 properties from nearly 2,500 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.

 

“Although foreclosure levels declined in Texas on a monthly and yearly basis, the state’s foreclosure rate remains one of the highest in the nation,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment is down in the state, but foreclosure is a lagging indicator of economic health. Thus more than two-thirds of all foreclosures in the state for February were properties going to auction with most of the remaining properties already back in the possession of the foreclosing lenders.”

 

After spending much of 2006 leading the nation in foreclosure activity, the Lone Star state is firmly in third place this month, almost 7,000 foreclosure filings behind national leader Florida and nearly 4,000 filings less than second place California. Fourth place Michigan tallied more than 3,000 foreclosure filings less than Texas, while Ohio had the fifth highest total — nearly 5,000 filings less than Texas. The rest of the nation’s top 10 are Georgia, Illinois, Colorado, New York and New Jersey.

 

Three counties account for more than half of all state foreclosures

Three Texas counties accounted for 57 percent of all foreclosure activity in the state for February. Harris County led the state, reporting 2,465 foreclosure filings for the month. Dallas and Tarrant counties virtually tied for the second highest total, with Dallas County reporting 2,313 new foreclosure filings while Tarrant County reported 2,312 new filings. Next highest total was found in Bexar County, which reported 910 filings in the foreclosure pipeline.

 

Rockwall County leads state in foreclosure rate for the month

Documenting one foreclosure filing for every 169 households — 3.9 times the state average and 5.2 times the national average — Rockwall County tallied the state’s highest foreclosure rate for February. Tarrant County reported the state’s second highest foreclosure rate, one foreclosure filing for every 245 households — 2.7 times the state average and 3.6 times the national average. Ellis County reported the third highest rate, one foreclosure filing for every 246 households — 2.6 times the state average and 3.6 times the national average. Williamson County came in fourth with a rate of one foreclosure filing for every 255 households— 2.6 times the state average and 3.5 times the national average. Kaufman County rounded out the state’s top five, reporting one foreclosure filing for every 284 households — 2.3 times the state average and 3.1 times the national average.

 

State makes significant contribution to national total

Total new foreclosure filings in Texas accounted for nearly 10 percent of the 130,786 filings nationwide in February. The national total was down 4 percent from the previous month, but still up 12 percent from February 2006. The nation’s foreclosure rate increased slightly to one foreclosure filing for every 884 households during the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. RealtyTrac’s report includes properties in all three phases of foreclosure: Defaults — Notice of Default (NOD) and Lis Pendens (LIS); Auctions — 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).

 

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

 

 

                    Texas Foreclosure Market by County – February 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

29,662

47,127

9,404

22,479

22,114

130,786

884

n/a

n/a

Texas

14

9,601

0

0

2,771

12,386

650

1.36

n/a

 

 

 

 

 

 

 

 

 

 

Anderson

0

1

0

0

2

3

6,145

0.14

0.11

Andrews

0

1

0

0

0

1

5,400

0.16

0.12

Aransas

0

0

0

0

0

0

n/a

0.00

0.00

Armstrong

0

0

0

0

0

0

 n/a

0.00

0.00

Atascosa

0

0

0

0

2

2

7,442

0.12

0.09

Austin

0

2

0

0

0

2

5,103

0.17

0.13

Bandera

0

0

0

0

0

0

n/a 

0.00

0.00

Bastrop

0

47

0

0

6

53

420

2.11

1.55

Bell

0

84

0

0

0

84

1,105

0.80

0.59

Bexar

0

853

0

0

57

910

463

1.91

1.40

Blanco

0

0

0

0

0

0

n/a 

0.00

0.00

Bosque

0

0

0

0

0

0

n/a 

0.00

0.00

Brazoria

0

99

0

0

3

102

889

1.00

0.73

Brazos

0

2

0

0

8

10

5,902

0.15

0.11

Brown

0

0

0

0

4

4

4,472

0.20

0.15

Burnet

0

0

0

0

3

3

5,311

0.17

0.12

Caldwell

0

1

0

0

0

1

11,901

0.07

0.05

Callahan

0

0

0

0

0

0

n/a 

0.00

0.00

Cameron

0

10

0

0

66

76

1,574

0.56

0.41

Cass

0

0

0

0

0

0

n/a 

0.00

0.00

Chambers

0

2

0

0

0

2

5,168

0.17

0.13

Cherokee

0

0

0

0

0

0

n/a 

0.00

0.00

Collin

1

533

0

0

111

645

302

2.93

2.15

Comal

0

54

0

0

5

59

555

1.59

1.17

Cooke

0

1

0

0

0

1

15,061

0.06

0.04

Coryell

0

3

0

0

0

3

7,259

0.12

0.09

Crosby

0

0

0

0

0

0

n/a 

0.00

0.00

Dallas

2

1,930

0

0

381

2,313

369

2.39

1.76

Deaf Smith

0

2

0

0

0

2

3,457

0.26

0.19

Denton

0

383

0

0

18

401

419

2.11

1.55

Ector

0

15

0

0

1

16

3,094

0.29

0.21

El Paso

0

177

0

0

79

256

877

1.01

0.74

Ellis

1

151

0

0

7

159

246

3.60

2.64

Falls

0

0

0

0

0

0

n/a 

0.00

0.00

Fannin

0

1

0

0

0

1

12,887

0.07

0.05

Fayette

0

3

0

0

0

3

3,704

0.24

0.18

Floyd

0

0

0

0

0

0

n/a 

0.00

0.00

Fort Bend

1

255

0

0

114

370

313

2.82

2.07

Freestone

0

1

0

0

0

1

8,138

0.11

0.08

Galveston

0

122

0

0

10

132

846

1.04

0.77

Gillespie

0

0

0

0

0

0

n/a 

0.00

0.00

Gray

0

0

0

0

0

0

n/a 

0.00

0.00

Grayson

0

1

0

0

5

6

8,053

0.11

0.08

Gregg

0

3

0

0

0

3

15,450

0.06

0.04

Grimes

0

0

0

0

1

1

9,490

0.09

0.07

Guadalupe

0

38

0

0

5

43

781

1.13

0.83

Hale

0

0

0

0

0

0

n/a 

0.00

0.00

Hardin

0

0

0

0

0

0

n/a 

0.00

0.00

Harris

3

1,575

0

0

887

2,465

527

1.68

1.23

Harrison

0

0

0

0

3

3

8,757

0.10

0.07

Hays

0

59

0

0

6

65

548

1.61

1.19

Henderson

0

0

0

0

11

11

3,267

0.27

0.20

Hidalgo

0

9

0

0

1

10

19,266

0.05

0.03

Hill

0

0

0

0

3

3

4,875

0.18

0.13

Hood

0

0

0

0

4

4

4,776

0.19

0.14

Hopkins

0

1

0

0

1

2

7,010

0.13

0.09

Howard

0

1

0

0

0

1

13,589

0.07

0.05

Hunt

0

2

0

0

1

3

10,830

0.08

0.06

Hutchinson

0

1

0

0

0

1

10,871

0.08

0.06

Jasper

0

0

0

0

0

0

n/a 

0.00

0.00

Jefferson

0

93

0

0

11

104

982

0.90

0.66

Jim Wells

0

0

0

0

0

0

n/a 

0.00

0.00

Johnson

0

30

0

0

42

72

643

1.38

1.01

Kaufman

0

57

0

0

35

92

284

3.11

2.29

Kendall

0

9

0

0

0

9

1,068

0.83

0.61

Kerr

0

9

0

0

0

9

2,248

0.39

0.29

Kleberg

0

1

0

0

0

1

12,743

0.07

0.05

Lamb

0

0

0

0

0

0

n/a 

0.00

0.00

Lampasas

0

3

0

0

0

3

2,534

0.35

0.26

Leon

0

0

0

0

0

0

n/a 

0.00

0.00

Liberty

0

1

0

0

19

20

1,318

0.67

0.49

Live Oak

0

0

0

0

0

0

n/a 

0.00

0.00

Llano

0

0

0

0

1

1

11,829

0.07

0.05

Lubbock

0

4

0

0

0

4

25,149

0.04

0.03

Lynn

0

0

0

0

0

0

n/a 

0.00

0.00

Madison

0

0

0

0

0

0

n/a 

0.00

0.00

Marion

0

0

0

0

0

0

n/a 

0.00

0.00

Matagorda

0

0

0

0

0

0

n/a 

0.00

0.00

Mclennan

0

3

0

0

19

22

3,854

0.23

0.17

Medina

0

6

0

0

1

7

2,118

0.42

0.31

Midland

0

20

0

0

5

25

1,843

0.48

0.35

Milam

0

2

0

0

0

2

5,433

0.16

0.12

Mitchell

0

0

0

0

1

1

4,168

0.21

0.16

Montgomery

1

224

0

0

78

303

372

2.38

1.75

Morris

0

0

0

0

0

0

n/a 

0.00

0.00

Nacogdoches

0

0

0

0

0

0

n/a 

0.00

0.00

Navarro

0

1

0

0

4

5

3,690

0.24

0.18

Newton

0

0

0

0

0

0

n/a 

0.00

0.00

Nueces

0

2

0

0

27

29

4,243

0.21

0.15

Oldham

0

0

0

0

0

0

n/a 

0.00

0.00

Orange

0

1

0

0

5

6

5,797

0.15

0.11

Palo Pinto

0

0

0

0

1

1

14,102

0.06

0.05

Panola

0

0

0

0

0

0

n/a 

0.00

0.00

Parker

0

7

0

0

21

28

1,217

0.73

0.53

Polk

0

0

0

0

0

0

n/a 

0.00

0.00

Potter

0

16

0

0

12

28

1,593

0.56

0.41

Rains

0

0

0

0

0

0

n/a 

0.00

0.00

Randall

0

26

0

0

9

35

1,236

0.72

0.53

Red River

0

0

0

0

1

1

6,916

0.13

0.09

Refugio

0

0

0

0

0

0

n/a 

0.00

0.00

Rockwall

0

64

0

0

27

91

169

5.24

3.85

Rusk

0

0

0

0

0

0

n/a

0.00

0.00

San Jacinto

0

0

0

0

0

0

 n/a

0.00

0.00

San Patricio

0

0

0

0

6

6

4,144

0.21

0.16

Smith

0

1

0

0

0

1

71,701

0.01

0.01

Starr

0

4

0

0

0

4

4,397

0.20

0.15

Swisher

0

0

0

0

0

0

n/a 

0.00

0.00

Tarrant

4

1,750

0

0

558

2,312

245

3.61

2.66

Taylor

1

1

0

0

0

2

26,028

0.03

0.02

Tom Green

0

0

0

0

10

10

4,392

0.20

0.15

Travis

0

486

0

0

22

508

661

1.34

0.98

Trinity

0

0

0

0

0

0

n/a

0.00

0.00

Tyler

0

0

0

0

0

0

n/a

0.00

0.00

Upshur

0

0

0

0

0

0

n/a

0.00

0.00

Van Zandt

0

0

0

0

0

0

n/a

0.00

0.00

Victoria

0

1

0

0

2

3

10,982

0.08

0.06

Walker

0

1

0

0

0

1

21,099

0.04

0.03

Washington

0

2

0

0

0

2

6,621

0.13

0.10

Webb

0

5

0

0

0

5

11,041

0.08

0.06

Wharton

0

0

0

0

0

0

n/a

0.00

0.00

Wichita

0

0

0

0

29

29

1,838

0.48

0.35

Williamson

0

346

0

0

8

354

255

3.47

2.55

Wilson

0

0

0

0

1

1

12,110

0.07

0.05

Wise

0

2

0

0

11

13

1,480

0.60

0.44

Wood

0

0

0

0

0

0

n/a

0.00

0.00

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastest growing private companies, RealtyTrac Inc. (www.realtytrac.com), is the leading online marketplace for foreclosure properties, providing all the resources that home seekers, investors and real estate agents need to locate, evaluate and buy properties below market value.

 

Founded in 1996, RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure, foreclosure, For Sale By Owner, resale and new construction properties, with more than 1.3 million properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts nearly 3 million unique visitors monthly and has been chosen to supply foreclosure data to MSN Real Estate, Yahoo! Real Estate and the Wall Street Journal’s Real Estate Journal. For more information, visit (www.realtytrac.com).

 

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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