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Repossessed Homes for Sale in San Antonio Remain a Problem in Texas

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By : Allana Castro    99 or more times read
Although repossessed homes for sale in San Antonio and in most of the major metro areas of Texas remain at high levels, some parts of the state did record declining foreclosure rates for the coming auction period of October 2010. According to the latest state housing market data, Tarrant is one of the counties that posted a decline for the month.

Huge numbers of Texas repo homes for sale continue to drag the housing market down, particularly with fewer buyers showing interest in the properties. The main hope of the state is for the number not to increase further, and in some areas, that hope bore actual results. There are several localities, particularly in the Northern Texas region, that have recorded declining foreclosure rates for October.

Tarrant County is one such area, with the number of repossessed property for sale in the county dropping considerably for the October sale period. When compared with October 2009, foreclosure postings for October 2010 showed an 18% decline. Other counties that are showing improved housing market conditions are Dallas, Collin and Denton.

Combined foreclosure filings for these four counties are at 5,026, which might be only slightly higher than the total repossessed homes for sale in San Antonio. The figure represents a 15% decline when compared with month-ago and year-ago figures. Housing market observers in Tarrant have reported that in six out of the 10 covered months, the county has recorded a lower total of foreclosure filings when compared with year ago levels.

However, when full year statistics are examined, Tarrant is still ahead of the 10-month foreclosure total of 2009. The October sale period will see the county having a total filing of 17,232. Some analysts have predicted that the four counties will produce over 60,000 foreclosure filings by the end of the current year. They also expect the high foreclosure and repossession numbers to be maintained until at least the early part of 2011.

Although repossessed homes for sale in San Antonio and in other major metros of Texas remain high, the area can at least be thankful that some counties are recording monthly filing declines, particularly in local markets located at the northern side of the state.
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