Texas Home Foreclosures Down In September According To RealtyTrac Report
October 24, 2008
According to the September report compiled by RealtyTrac, Texas real estate foreclosure numbers are down for the month of September and for the third quarter, compared with the prior quarter. Over the month of September, a total of 9,193 homes in Texas entered the foreclosure process, a 15.4% decline from the volume of filings posted in August 2008.
Compared to a year ago, the September 2008 numbers mark a 37.4% decline from the number of filings posted in Texas over the course of September 2007.
As part of RealtyTrac’s latest report, the firm ranked the top 100 metro foreclosure markets based on the percentage of houses in a given city that were in foreclosure during the third quarter of this year. The higher a city’s ranking, the higher the percentage of homeowners who have received foreclosure notices.
San Antonio came in at No. 71 on the Top 100 list. As of third-quarter 2008, a total 2,299 homes 0.31% of its housing units were in foreclosure.
Top six states account for 60 percent of third quarter foreclosure activity
Six states accounted for more than 60% of U.S. foreclosure activity in the third quarter. California alone accounted for more than 27% of the nation’s foreclosure activity, with 210,845 properties receiving a foreclosure filing during the quarter — up 4% from the previous quarter and up more than 122% from the third quarter of 2007.
Foreclosure filings were reported on 127,306 Florida properties during the third quarter, the second highest state total. The state’s foreclosure activity increased 16% from the previous quarter and nearly 109% from the third quarter of 2007.
Arizona documented the third highest state total in the third quarter, with 40,419 properties receiving a foreclosure filing — a 9% increase from the previous quarter and a 189% increase from the third quarter of 2007.
Ohio, Michigan and Nevada all reported foreclosure filings on more than 30,000 properties during the third quarter, although foreclosure activity in Ohio was down 11% from the previous quarter and foreclosure activity in Michigan was down 8% from the previous quarter. Nevada’s foreclosure activity increased more than 22% from the previous quarter and was up more than 132% from the third quarter of 2007.
To read the full report and see rankings for other cities visit www.RealtyTrac.com
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