Foreclosure Homes by State Jumped in Some Areas of Texas

by Donald Hanz on cities

The number of foreclosure homes by state has increased in some areas, including Texas. The northern part of the state, particularly Dallas-Fort Worth, recorded higher foreclosure filings with almost 6,000 households facing possible foreclosure sales for the coming auction month of September.

After three consecutive months of decreasing numbers, Dallas foreclosed homes jumped for the September auction period with over 5,900 households facing possible foreclosure sales. According to statistics released by Foreclosure Listing Service, the total figure represents an 18% rise compared with the same period of 2009.

Texas foreclosure homes have been showing declines in most local areas in the past few months, leading some analysts to believe that the market is starting to bottom out. However, data for September has removed some of the optimism as the current number is the highest foreclosure total recorded in the Dallas-Fort Worth region since April of the current year.

So far, the current year has produced over 48,000 foreclosure filings and foreclosed homes for sale in the North Texas region. The total filings covering January-September represents a 7% increase compared with the same period of a year ago.

Analysts have revealed that foreclosure homes by state data for September have put the North on course for a nine-month foreclosure record. Yearly comparison shows that each of the four counties in the Dallas-Fort Worth region recorded higher residential foreclosure activities compared with the previous year.

Among the counties in D-FW region, Denton recorded the highest increase for September, with foreclosure numbers surging 23% when compared with the same period of 2009. Denton was followed by Dallas County with a foreclosure rise of 19%. Analysts have stated that these numbers will continue to climb higher for the rest of 2010 as long as unemployment rates also remain high.

According to real estate analysts, job loss has a significant impact on the counties' foreclosure rates, with thousands of households just barely holding on. They also added that job market situations all around the country should exhibit significant improvements first before foreclosure rates can start leveling off. Foreclosure homes by state will remain high in most areas of the U.S. for the rest of 2010 and most likely until the first quarter of next year, they further added.

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