Texas Foreclosure Activity Rebounds in August

Filings increase 22 percent from July; foreclosure rate No. 25 nationally

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 14,290 Texas properties in August, a 22 percent increase from the previous month and a 27 percent increase from August 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.  

 

One in every 672 Texas housing units received a foreclosure filing during the month, the 25th highest state foreclosure rate in the nation.

 

Texas foreclosures were up in August,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest increase was in auctions, which were up 14 percent during the month. The state’s home sales were lower than the national average during the past year. This has likely contributed to the recent climb.”

 

As it has for quite some time now, California led the nation in foreclosure activity with 69,143 properties with foreclosures filings. Florida continued as the state with the nation’s second highest level of activity, reporting 56,877 properties with foreclosure filings in August. Michigan took over the spot as state with the third highest foreclosure level, tallying 17,764 properties with foreclosure filings for the month. Illinois dropped one notch to fourth highest, reporting 16,808 properties with foreclosure filings. Reporting 16,510 properties with foreclosure filings for the month, Arizona stayed in fifth place.

 

The remaining states in the nation’s top 10 for total foreclosure activity in August were Georgia (16,366), Texas (14,290), Ohio (13,479), Nevada (13,385) and Washington (6,760). In all, these states accounted for 71 percent of all foreclosure filings in the nation for the month.

 

Johnson County dominates the state in foreclosure rate for August

Johnson County posted the top foreclosure rates for August, where one in every 245 housing units received a foreclosure filing during the month. One in every 248 housing units received a foreclosure filing in Kaufman County, for the second highest rate in the state. Coming in third was Williamson County, where one in every 308 housing units received a foreclosure filing in August. Fourth highest was Rockwall County, where one in every 312 housing units received a foreclosure filing. Parker County came in fifth, with one in every 316 housing units receiving a foreclosure filing during the month.

 

Harris County posts top foreclosure total for August

Harris County led Texas in total foreclosure activity for August, reporting 3,194 properties with foreclosure filings. Dallas County documented the second highest foreclosure activity, where 1,754 properties with foreclosure filings were reported. Tarrant County came in third, tallying 1,353 properties with foreclosure filings. Fourth highest was Bexar County, where 1,099 properties with foreclosure filings were reported. Travis County came in fifth, reporting 614 properties with foreclosure filings for the month.

 

State contributes 4 percent to nation’s monthly foreclosure total

Texas accounted for 4 percent of the 338,836 properties with foreclosure filings reported nationwide in August. Total U.S. activity increased by more than 4 percent from the previous month, but was down more than 5 percent from the level reported in August 2009. One in every 381 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 – August 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

44,887

51,582

95,887

51,116

95,364

338,836

381

n/a

n/a

Texas

23

0

8,921

0

5,346

14,290

672

0.57

n/a

 

 

 

 

 

 

 

 

 

 

Johnson

0

0

73

0

147

220

245

1.55

2.74

Kaufman

0

0

65

0

63

128

248

1.53

2.70

Williamson

7

0

245

0

192

444

308

1.24

2.18

Rockwall

0

0

57

0

26

83

312

1.22

2.15

Parker

0

0

37

0

86

123

316

1.21

2.13

 

 

Texas Top Foreclosure Totals by County – August 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg June 10

% Chg July 09

 

 

 

 

 

 

 

 

 

 

United States

44,887

51,582

95,887

51,116

95,364

338,836

381

4.18

-5.48

Texas

23

0

8,921

0

5,346

14,290

672

21.86

26.90

 

 

 

 

 

 

 

 

 

 

Harris

0

0

2,220

0

974

3,194

495

24.81

32.81

Dallas

0

0

1,198

0

556

1,754

539

-3.73

27.94

Tarrant

0

0

969

0

384

1,353

506

21.89

6.62

Bexar

0

0

735

0

364

1,099

557

22.52

33.54

Travis

0

0

445

0

169

614

702

26.86

10.43

 

 

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2017 Renwood RealtyTrac LLC - All rights reserved