Wednesday, October 29, 2008

North Texas Foreclosure Update

Texas foreclosures have been moderate compared to the U.S. trend...

U.S. foreclosures are up 28% YTD for 2008.

Texas foreclosures are down 18% YTD for 2008.

In 2007, Texas was one of only 6 states that reported a decrease (4.6%) in delinquency foreclosure filings vs. a 75% national increase. During the 1st half of 2008, foreclosure filings were up 1% vs. a national increase of 61%!

So far, Texas has avoided high foreclosure levels (compared to the rest of the country). A stronger than national average with fairly low unemployment and continued population growth continues to fuel demand for housing-just not at the unsustainable levels of the boom years.

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