Dallas area posts low home foreclosure rate
The Dallas area had one of the lowest home foreclosure rates among major U.S. cities last year.
At the end of 2011, only 1.4 percent of Dallas-area homes were in foreclosure, compared with 3.4 percent nationwide, researchers at CoreLogic said Wednesday.
Among big cities, Orlando, Fla., had the highest foreclosure rate at 12.2 percent, CoreLogic said. Tampa, Fla., was second at 12.1 percent.
Dallas tied Seattle for the lowest foreclosure rate among the 25 major markets CoreLogic detailed.
Denver, with 1.5 percent, and Houston, with 1.6 percent, also fared well in the foreclosure rate comparison.
U.S. home foreclosures last year totaled 830,000 units — down from 1.1 million in 2010.
“The inventory of foreclosed properties has begun to shrink, and the pace at which properties are entering foreclosure is slowing,” Mark Fleming, chief economist with CoreLogic, said in the report.
Dallas-Fort Worth home foreclosure filings dropped by more than 10 percent in 2011 to the lowest level in three years. Foreclosure filings in the D-FW area have been down from a year earlier in each of the last 12 months.
And home foreclosure filings were down 16 percent from a year ago in this month’s auctions in the D-FW area.
CoreLogic said the Dallas area also has one of the lowest home loan delinquency rates among the 25 major U.S. markets it tracks.
In December, 5.1 percent of Dallas homeowners with a loan were 90 days or more late with a payment. That compares with 7.3 percent nationwide.
Only Minneapolis, St. Louis and Denver had lower late loan rates than Dallas at the end of the year.
| U.S. foreclosures
Major markets with the highest and lowest home foreclosure rates at the end of 2011. |
|
| Highest | |
| Orlando, Fla. | 12.2% |
| Tampa-St. Petersburg, Fla. | 12.1% |
| Chicago | 6.3% |
| Nassau-Suffolk, N.Y. | 6.2% |
| New York-White Plains-Wayne, N.Y.-N.J. | 5.3% |
| Lowest | |
| Dallas area | 1.4% |
| Seattle | 1.4% |
| Denver | 1.5% |
| Houston | 1.6% |
| St. Louis | 1.7% |
| U.S. | 3.40% |
| Texas | 1.40% |
| SOURCE: CoreLogic | |







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