Dallas-Fort Worth Foreclosures Decrease 34 Percent in June

 

 

DALLAS-FORT WORTH FORECLOSURES DECREASE 34 PERCENT IN JUNE

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Texas Posts Highest Number of Foreclosure Filings for Seventh Consecutive Month

Dallas Foreclosure Rate Still Highest Among Nation’s Top Five Metros

 

IRVINE, Calif. – July 18, 2006 – Foreclosure activity in the Dallas-Fort Worth metro area decreased 34 percent in June, reversing two consecutive months of increasing foreclosures in the region, according to the RealtyTrac™ 2006 Monthly U.S. Foreclosure Market Report. The 14-county metropolitan area reported 4,703 properties entering some stage of foreclosure during the month and a foreclosure rate of one new foreclosure filing for every 437 households.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with nearly 600,000 properties from over 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate, AOL Real Estate and Knight Ridder Online.

 

“With the steep decrease this month, Dallas-Fort Worth foreclosures dropped to their lowest level of the year so far,” said James J. Saccacio, chief executive officer of RealtyTrac. “Whether this signals a long-term decline will be evident in the coming months, but for now the area’s foreclosure rate remains well above the national average and highest among the nation’s top five metro areas.”

 

Los Angeles, New York, Philadelphia and Chicago all posted lower foreclosure rates than Dallas-Fort Worth, where the foreclosure rate was more than three times the national average.

 

Dallas County reported 2,191 properties entering some stage of foreclosure in June, a decrease of 31 percent from the previous month but more than any other county in the metropolitan area. With one new foreclosure filing for every 390 households, the county’s foreclosure rate was 3.4 times the national average.

 

Tarrant County foreclosures decreased 47 percent, with 1,151 properties entering some stage of foreclosure in June. Even with the decrease, the county’s foreclosure rate of one new foreclosure filing for every 492 households was 2.7 times the national average.

 

Despite the overall decline in foreclosure activity, several counties in the metropolitan area documented an increase in foreclosures in June. One of those counties was Rockwall County, where 96 properties entered some stage of foreclosure, a 23 percent increase from the previous month and a foreclosure rate of one new foreclosure filing for every 160 households — the highest county foreclosure rate in the country and more than eight times the national average.

 

Texas reported 11,355 properties entering some stage of foreclosure in June, a 22 percent decrease from the previous month and a 17 percent decrease from June 2005. The state reported the most foreclosures of any state for the seventh month in a row and a foreclosure rate of one new foreclosure filing for every 709 households — fourth highest among the states.

 

With 88,195 properties nationwide entering some stage of foreclosure in June, U.S. foreclosure activity decreased 5 percent from the previous month but was up 17 percent from June 2005. The nation’s foreclosure rate of one new foreclosure filing for every 1,311 households dropped to its lowest level of the year but was still higher than in any month last year.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, statewide and by county in the Dallas-Fort Worth Metropolitan Statistical Area over the preceding month. RealtyTrac’s report includes properties in all three phases of foreclosure: Pre-foreclosures – Notice of Default (NOD) and Lis Pendens (LIS); Foreclosures – 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 re-purchased by a bank).

 

Dallas-Fort Worth Foreclosure Market Statistics by County – June 2006

 

Area

NODs

NTSs

NFSs

LISs

REOs

Total

#Households for every foreclosure

%Change from May

US

21,866

38,382

2,966

9,598

15,383

88,195

1,311

-4.91

Texas

78

7,808

0

0

3,469

11,355

709

-21.72

Dallas-Fort Worth MSA

 

27

2,564

0

0

2,112

4,703

437

-33.470

Collin County, TX

1

320

0

0

158

479

407

-35.270

Dallas County, TX

10

1,100

0

0

1,081

2,191

390

-30.927

Delta County, TX

0

0

0

0

0

0

 

 

Denton County, TX

2

160

0

0

201

363

463

-34.358

Ellis County, TX

0

60

0

0

13

73

535

-1.351

Henderson County, TX

2

1

0

0

30

33

1,089

3200.000

Hood County, TX

0

1

0

0

4

5

3,821

-16.667

Hunt County, TX

0

1

0

0

0

1

32,490

0.000

Johnson County, TX

0

92

0

0

63

155

299

-5.488

Kaufman County, TX

1

4

0

0

61

66

396

230.000

Parker County, TX

1

50

0

0

27

78

437

8.333

Rockwall County, TX

0

93

0

0

3

96

160

23.077

Tarrant County, TX

10

682

0

0

459

1,151

492

-47.347

Wise County, TX

0

0

0

0

12

12

1,604

500.000

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by ComScore Media Metrix, 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 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 AOL Real Estate, MSN Real Estate and Yahoo! Real Estate. For more information, visit www.realtytrac.com.

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Media Contacts:
Michelle Schneider
949.502.8300 Ext. 139
michelle.schneider@realtytrac.com

Christine Stricker
949.502.8300 Ext. 268
christine.stricker@realtytrac.com

Detailed & Historical Data:
Tyler White
949.502.8300 Ext. 158
tyler.white@realtytrac.com

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