Given our growth in population and job opportunities, this is an ideal environment for a housing market to boom, and these continually lowering foreclosure rates are indicative of the great success we’re seeing in Dallas-Fort Worth.
Dallas, TX (PRWEB) June 10, 2014
Amid record home prices and thriving home sales, North Texas is looking at a flourishing housing market that is seeing distressed homes becoming less frequent. Prudential Texas Properties reports that home foreclosure filings have drastically fallen and will result in a low inventory of homes at auction in June.
Foreclosure Listing Services has reported that this month will see less than 1,400 homes in the four-county Dallas-Fort Worth area be posted for auction in June. This is a 50 percent decrease from June 2013 and the lowest level of foreclosure filings that the area has seen in more than 10 years, according to the Addison-based data service.
Dallas-Fort Worth is also at less than a quarter of the volume of home foreclosure filings than during the worst of the recession in 2010. The first half of this year has already seen foreclosure filings fall tremendously from last year. Through June, Dallas-Fort Worth saw a decrease of home foreclosure filings of more than a third from the same time frame last year.
“We’re looking at a very strong market here,” says DD Flynn, VP of Marketing at Prudential Texas Properties. “Given our growth in population and job opportunities, this is an ideal environment for a housing market to boom, and these continually lowering foreclosure rates are indicative of the great success we’re seeing in Dallas-Fort Worth.”
Click here for a 60-second Fort Worth home market update.
By county, the areas of North Texas that have seen the biggest decline in foreclosures were Collin and Denton counties where filings decreased by 53 percent. Dallas and Tarrant counties were not too far behind the leaders as foreclosure filings fell 49 and 51 percent, respectively.
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