DFW foreclosure auction postings fall 15% in second quarter
Second-quarter foreclosure auction postings in the Dallas-Fort Worth metropolitan area fell 15% from a year earlier, dropping to a nine-quarter low, according to new statistics from Foreclosure Listing Service. The North Texas-based foreclosure data firm looks at courthouse filings across DFW. From April to June, 13,310 foreclosure auction notices were filed in the area, down from 15,715 a year ago. The report includes foreclosure statistics for the North Texas counties of Dallas, Tarrant, Collin and Denton. The filings for June are included because the deadline to have a property in next month's auction has passed. Foreclosure Listing Service said mid-year home postings for 2011 are down over last year, making it the first time a year-over-year decline has been recorded in 11 years for this period. "On a quarter-to-quarter comparison, second-quarter's posting level was down 18% from the 16,194 notices filed for the first quarter of this year," said George Roddy, president of Foreclosure Listing Service. "All four counties within the DFW Metroplex had a decline in second quarter's posting activity compared to one year earlier; and, in all four counties, quarterly postings dropped to their lowest level in nine or more quarters." The deepest decline in foreclosure postings occurred in Collin County, where the number of foreclosure postings fell 18% year-over-year. The state, as a whole, is poised to recover from the nation's economic malaise faster than other states with more severe housing problems, according to a recent Standard & Poor's report that noted that Texas' housing market didn't see the boom-and-bust cycle that others did. Write to: Kerri Panchuk.