DFW Home Foreclosures Down 10 Percent From 2010
A recent study by the Dallas Morning News suggests that DFW’s housing market woes may have hit bottom.
According to the study, home foreclosures in the first half of this year were down more than 10 percent from the same period last year, and more than 25 percent from the same period in 2008.
Lenders foreclosed on more than 7,800 DFW homes during the first half of this year, reports Addison-based Foreclosure Listing Service. The total value of those properties was almost $779 million.
Foreclosure rates are highest in places such as Celina, Anna, Princeton, Lavon, Little Elm, Lancaster, Glenn Heights, Forest Hill, Blue Mound and Fate.
D’Ann Petersen with the Federal Research Bank of Dallas said foreclosures bear watching and may remain elevated until there’s sustained improvement in the housing market.
“The housing market is still wobbly, but it does appear to have reached a bottom,” she said.
Source: Dallas Morning News
Read MoreAugust Existing Home Sales Up 31 Percent in Dallas Metroplex!
Sales of existing single-family Texas homes in August were up 24 percent from a year ago, according to the most recent Multiple Listing Services (MLS) data compiled by the Real Estate Center at Texas A&M University.
More than 21,200 existing single-family homes were sold, data showed.
The median home price was $153,200, about the same as a year ago, and the state’s overall inventory was at 7.4 months.
August 2011 MLS data for many Texas cities are available on the Center’s website. Here is a sampling (data current as of Sept. 29, 2011):
|
|
Sales |
Change from Last Year |
Median Price |
Change from Last Year |
Months’ Inventory |
|
Abilene |
174 | up 21% | $108,900 | down 11% | 6.3 |
|
Arlington |
431 | up 39% | $132,100 | down 2% | 5.8 |
|
Austin |
2,193 | up 31% | $194,600 | no change | 5.8 |
|
Beaumont |
160 | down 8% | $144,600 | up 6% | 12.3 |
|
Brownsville |
78 | up 32% | $117,100 | up 3% | 13.5 |
|
Dallas |
4,540 | up 31% | $163,500 | down 1% | 6.4 |
|
Fort Worth |
778 | up 12% | $124,900 | up 3% | 6.6 |
|
Houston |
6,063 | up 29% | $157,700 | up 1% | 7.2 |
|
McAllen |
185 | up 35% | $109,700 | down 6% | 15.1 |
|
Odessa |
89 | up 3% | $142,500 | down 5% | 4.3 |
|
Port Arthur |
55 | down 5% | $103,800 | down 6% | 13.3 |
|
San Antonio |
1,811 | up 9% | $153,500 | down 4% | 7.9 |
|
South Padre Island |
25 | down 7% | $197,500 | up 20% | 41.9 |
|
Texarkana |
85 | up 1% | $106,200 | up 2% | 10.2 |
|
Waco |
184 | up 26% | $118,900 | down 11% | 9.9 |
|
Texas |
21,246 | up 24% | $153,200 | no change | 7.4 |
Source: Real Estate Center
Read MoreJuly 2011 Texas Existing Home Sales Up 18 Percent
Sales of existing single-family homes in Texas in July were up 18 percent from a year ago, according to the most recent Multiple Listing Services (MLS) data compiled by the Real Estate Center at Texas A&M University.
Nearly 19,630 existing single-family homes were sold, data showed.
The median home price was down 1 percent to $153,200, and the state’s overall inventory was at 7.9 months.
July 2011 MLS data for many Texas cities are available on the Center’s website. Here is a sampling (data current as of Aug. 29, 2011):
|
|
Sales |
Change from Last Year |
Median Price |
Change from Last Year |
Months’ Inventory |
|
Amarillo |
267 | up 47% | $124,400 | down 1% | 7.3 |
|
Austin |
2,178 | up 33% | $193,900 | down 9% | 6.5 |
|
Brownsville |
47 | down 11% | $91,200 | down 15% | 13.1 |
|
Corpus Christi |
329 | up 19% | $145,900 | up 8% | 10 |
|
Dallas |
4,064 | up 21% | $165,100 | down 2% | 7 |
|
El Paso |
466 | up 12% | $133,900 | down 4% | 7.8 |
|
Fort Worth |
724 | up 18% | $109,700 | down 5% | 6.9 |
|
Harlingen |
65 | down 6% | $88,300 | up 12% | 23.6 |
|
Houston |
5,544 | up 17% | $159,300 | up 1% | 7.7 |
|
Lubbock |
311 | up 38% | $119,000 | up 5% | 8 |
|
San Angelo |
100 | up 1% | $124,600 | up 5% | 6.9 |
|
San Antonio |
1,731 | up 11% | $155,600 | down 4% | 8.4 |
|
Temple- Belton |
158 | up 12% | $125,000 | up 8% | 9.5 |
|
Tyler |
278 | up 9% | $139,200 | up 3% | 14.5 |
|
Wichita Falls |
181 | up 74% | $60,700 | down 37% | 8.8 |
|
Texas |
19,628 | up 18% | $153,200 | down 1% | 7.9 |
Source: Real Estate Center
Read MoreNew Home Construction: Texas Leads the Way
Three Texas MSAs are among the nation’s strongest when it comes to residential construction activity. In fact, two of them lead the way in the value of private housing projects authorized last year.
According to the U.S. Census Bureau, Houston-Sugar Land-Baytown had $4.17 billion in new residential projects in 2010, more than any other U.S. city. Dallas-Fort Worth-Arlington came in second with $3.87 billion.
Also cracking the top ten was Austin-Round Rock-San Marcos. With $1.29 billion in residential projects last year, the MSA ranked tenth.
Source: Houston Business Journal
Read MoreDallas Area Home Foreclosure Filings Drop
Metroplex home foreclosure filings for September are down 19 percent from a year ago, marking the seventh month in a row that they have fallen year over year.
More than 4,700 homes are scheduled for sale at next month’s foreclosure auctions, according to Addison-based Foreclosure Listing Service (FLS). So far this year, home foreclosure filings are down 12 percent from the same period last year.
Denton County had the biggest decline, with filings down 28 percent. Dallas County had a 19 percent drop.
Some 42,380 homes in the four-county area have been threatened with foreclosure so far this year, compared with more than 48,000 foreclosure filings by the same time last year.
A growing number of those homes are “upside-down,” meaning they are worth less than what is owed on the mortgage.
“Upside-down postings have surged 34 percent in the past year, with 28 percent of the homes posted so far this year involving homes in this no-win situation,” said FLS President George Roddy. Latest surveys show that about 12 percent of Dallas-area residents with a home loan owe more than their property is worth.
Source: Dallas Morning News
Read MoreNorth Texas Among Best Performing Housing Markets in America
Dallas-Fort Worth-Arlington is one of the highest performing major housing
markets in the country based on first half 2011 data compiled by Clear Capital.
DFW ranked fourth on Clear Capital’s list
of top ten performers, which included no other Texas cities.
- Washington, D.C.-Arlington, Va.
- New York-Long Island, N.Y.-No. New Jersey, N.J.
- Orlando
- Dallas-Fort Worth-Arlington, Texas
- San Francisco-Oakland-Fremont, Calif.
- Boston-Cambridge-Quincy, Mass.
- Honolulu
- San Diego-Carlsbad-San Marcos, Calif.
- Rochester, N.Y.
- Memphis, Tenn.
Source: Realtor.org
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