According to the Houston Chronicle a new report from ATTOM Data Solutions is spreading the good news that the national foreclosure activity has fallen to its lowest point in almost 15 years. The calculations were derived from 2019's third-quarter figures for home buying. The state of Texas is showing a 64-percent drop in home foreclosures since the recession. "This is not to say that everything in the latest foreclosure picture is rosy," said Todd Teta, chief product officer at ATTOM Data Solutions.. "Some states have seen their foreclosure rates increase this year, which could cause some concern."
The only major market in the state that contradicted this trend was San Antonio, which posted a 24-percent increase in bank-owned properties since the beginning of the third quarter. “Foreclosure activity continues to decline across the country, which is a good sign that the housing market and the broader economy remain strong – and that the lending excesses that helped bring down the economy during the Great Recession remain a memory,” Teta said.
The total number of properties with foreclosure filings in Texas in 2019's third quarter is 8,918. That's a nearly 13 percent year-over-year decrease. However, it's still a 5.59-percent increase from the second quarter of this year.
Teta adds: "Overall, the foreclosure numbers reflect a market in which buyers can afford their homes and lenders remain careful in loaning to home buyers who have little chance of repaying.”
Read More
