North Texas home foreclosures ease in some areas

Texas Foreclosure News

Article Abstract: Although Dallas foreclosures rose 33 percent from one year ago, foreclosures in Dallas were down 2 percent from June. The upcoming Dallas foreclosure auction is set to list over 3,000 properties. Unfortunately, some predict the decrease in Texas foreclosures doesn’t mean that there will be a foreclosure turn-around- at least not any time soon. For the full Texas foreclosure article, please read the news article below:
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The number of July home foreclosures in the Dallas-Fort Worth area rose 33 percent from a year ago but was down 2 percent from June.

Postings set for the upcoming auctions in July reached 3,747 in Dallas-Fort Worth, with notices in Dallas County numbering 1,651, up 22 percent from a year ago but down 4 percent from June. Tarrant County notices reached 1,212, up 38 percent from a year ago and up 3 percent from June.

The number of July foreclosure notices were lower than in June in five out of 10 counties covered by Foreclosure Listing Service Inc. Besides Dallas County, the numbers were lower than in June in Denton (down 12 percent), Johnson (down 8 percent), Parker (down 2 percent) and Kaufman (down 19 percent) counties.

"Although this is welcomed news, it does not change the fact that foreclosure postings are on the high-end of the foreclosure cycle and that for a number of consecutive months now, monthly postings have been higher than at the same time last year," said George Roddy Sr., president and chief executive of Foreclosure Listing Service.

"A month, or even two, of lessening foreclosure postings compared to the previous month, however welcomed, is not a sign that foreclosure trends are changing," Roddy added. "Trends are based on longer term measurements; and, compared to one year ago, foreclosure postings still remain well ahead in all of North Texas' larger counties."

In addition, home foreclosures in July have been historically lower than June, Roddy said.

For foreclosure number for the first seven months of the year reached a new record of about 32,000 foreclosure notices. Of these, 29,000 postings were filed on homes in the combined four counties of Dallas, Tarrant, Collin and Denton.

In seven of the 10 counties, the gain in year-to-date home foreclosure postings reached or exceeded 20 percent, with four counties registering a gain of 25 percent or more.

The largest gain in residential postings during the seven-month period was a 45 percent jump in Kaufman County. That was followed by a 37 percent surge in Denton County, a 31 percent gain in Rockwall County, and a 25 percent increase in Tarrant County.

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