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Friday, October 31, 2014
Lenders are taking fewer Dallas-area homes through foreclosure
Lenders have foreclosed on about 25 percent fewer Dallas-area homes in the last year, according to a new report by CoreLogic Inc.
During the 12-month period ending September, 5,899 Dallas-area homes were sold at foreclosure auction. That compares with more than 7,900 home foreclosures in the previous 12 months.
Home foreclosure totals in the Dallas area are less than half of what they were in 2011, according to CoreLogic.
Only 0.7 percent of Dallas-area homes were in foreclosure in September, researchers said.
That compares with 1.6 percent of homes in some stage of foreclosure nationwide.
Nationwide foreclosures were down more than 32.6 percent in September from a year earlier and were down 61 percent from the peak of completed foreclosures in 2010.
“The level of serious delinquencies has rapidly declined over the last few years, but the pace of improvement is beginning to recede,” said Sam Khater, deputy chief economist at CoreLogic. ” As of June, serious delinquencies were 26 percent lower than the prior year, but as of September serious delinquencies were 21 percent lower.”
The number of homes posted for potential foreclosure in the Dallas-Fort Worth area is at a more than decade low, according to data from Addison-based Foreclosure Listing Service.