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Dallas and Fort Worth Pre Foreclosures Showing Declines

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By : John Cutts    99 or more times read
Fort Worth pre foreclosures have declined for the second quarter of 2010 as shown in the drop of foreclosed properties available for the June 2010 auction. The second quarter showed the whole Dallas-Fort Worth area recording foreclosure activity declines, with Collin County being one of the areas that contributed to this decline.

The number of foreclosed homes for sale in Texas and nationwide continue to rise, but Dallas and Fort Worth continue to enjoy diminishing number of foreclosure activities for the second quarter. Collin County, one of the frequently highlighted local areas in Dallas-Fort Worth, recorded a 4% decline for the second quarter when compared with the same period of 2009.

Meanwhile, foreclosed houses for sale for the month of June in the county declined significantly, with June numbers being 18% lower than numbers for the same month a year ago. However, statistics from the Foreclosure Listing Service of Fort Worth showed that total foreclosure activities for the year-to-date period is up 11% compared with the same period of 2009.

Despite the year to date figures, the significant drop in Fort Worth pre foreclosures for the month of June is being seen as a positive sign for the whole Dallas-Fort Worth community. June makes it two consecutive months for the area in terms of declining foreclosure activities. Local realtors have warned homeowners and buyers not to be carried away though. They argued that foreclosure activity for second quarter is more or less the same as during the second quarter of last year.

Local numbers showed that both May and June recorded foreclosure activities of less than 5,000; but realtors have claimed that the difference from last year is still not significant if the whole quarter is taken into consideration. They added that posting activities for the 2010 first half has already reached the highest point for the current foreclosure cycle’s mid-year activities.

Although Fort Worth pre foreclosures have dropped for the month of June 2010, real estate market analysts have warned that it is still too early to feel secure on where the housing market is going. They added that a market needs at least six months of uniform performance before a recovery can be declared.

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