Consumer

/

Home & Leisure

Foreclosures hit historic low in North Texas. Are they heading back up?

Gordon Dickson, Fort Worth Star-Telegram on

Published in Home and Consumer News

FORT WORTH, Tex. -- A decade after the housing market crashed, foreclosures in Dallas-Fort Worth have slowed to a trickle.

Fewer than 1,000 homes are taken each month from owners who haven't kept up with mortgage payments in the Dallas-Fort Worth-Arlington area.

But could they be on the verge of going back up?

"We're seeing a little bit of a hint, with increasing foreclosure activity," said Daren Blomquist, a senior vice president at Attom Data Solutions, a California company that closely tracks foreclosures nationwide.

In November, only 969 foreclosure auctions or bank repossessions were recorded in North Texas courthouses. In October, there were 885 foreclosure activities, and in September there were 775.

That's a far cry from the peak of the housing bust, which was a major factor in the Great Recession that nearly brought the global economy to its knees in 2006-10.

--Sponsored Video--

In January 2006, there were 8,748 auctions or bank repossessions of foreclosed homes in North Texas.

During the recession, roughly 7,000 to 8,000 people lost their homes each month in Dallas-Fort Worth, according to Attom Data.

Long-term indicators point to a successful recovery of the residential real estate market. Banks are doing a better job lending their money, and job growth and higher residential property values ensure home owners should have enough money to keep making their monthly mortgage payments, researchers and analysts say.

"It took a decade, but we are now back to our historical numbers," said Lawrence Yun, chief economist for the National Association of Realtors.

...continued

swipe to next page
 

Comments

blog comments powered by Disqus