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Dallas area has fewer home foreclosures than U.S. and Texas

Forced sales of homes in D-FW are a fraction of what they were a decade ago.

Dallas-area home foreclosure rates were at half the nationwide level in the latest market comparison.

Only 0.2% of Dallas-area homes with mortgages were in foreclosure in October, according to the latest report by CoreLogic. That was less than Texas’ 0.3% rate and the 0.4% of U.S. homes facing forced sale.

The nationwide October 2019 foreclosure inventory rate was the lowest since at least January 1999.

“Home price growth builds homeowner equity and reduces the likelihood of a loan entering foreclosure,” Frank Nothaft, chief economist at CoreLogic, said in the report.

CoreLogic reported that the average U.S. homeowner gained $5,300 in equity during the year ending in October.

Some of the highest big-city foreclosure rates CoreLogic recorded were in New York (1.2%), Miami (0.9%) and Chicago (0.6%).

Austin had the lowest percentage of homes in the foreclosure process among major Texas markets at only 0.1%. Houston and San Antonio had rates of 0.3%.

About 3.7% of Dallas-area homeowners with loans were delinquent, missing at least one monthly payment.

During the worst of the recession in 2010, more than 5% of Dallas-area mortgages were seriously delinquent and about 1.5% of all loans were in foreclosure.

Austin had the lowest foreclosure levels among major Texas cities.
Austin had the lowest foreclosure levels among major Texas cities.(CoreLogic)

Steve Brown, Real Estate Editor. Steve covers commercial and residential real estate in Dallas-Fort Worth.

stevebrown@dallasnews.com @SteveBrownDMN
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