Friday, January 10, 2014

CoreLogic: Dallas-area home foreclosures fall by almost 40 percent

Dallas-area home foreclosures were down 38 percent for the 12 months ending in November compared to the same period in 2012, CoreLogic reports.

Lenders completed foreclosure on 7,122 Dallas-area homes during the year, vs. 11,590 home foreclosures in the previous 12 months.

The Dallas-area ranked 11th nationally in foreclosure volume in November.

Atlanta was first with 21,704 foreclosures followed by Tampa (16,627) and Chicago (16,231).

Foreclosures made up less than 1 percent of the Dallas-area housing inventory.

“Nationally, loan performance continues to improve,” CoreLogic economist Mark Fleming said. “The rate of seriously delinquent loans is at a new 5-year low, down 26 percent relative to a year ago.”

Pending home foreclosures in Dallas-Fort Worth fell in 2013 to the lowest level in a decade as housing values rose and lenders sought alternative means handle problem mortgages.