Dallas-Fort Worth home foreclosure filings are on track to be at the lowest level in more than a decade this year.
So far in 2014, residential foreclosure filings in North Texas are running 35 percent below where they were last year, according to Foreclosure Listing Service.
For November’s foreclosure auctions, 1,485 homes are threatened with forced sale by lenders in the four-county area. That’s about 30 percent fewer than in the same month last year.
The largest number of foreclosure filings are in Dallas County (661) and Tarrant County (510).
Foreclosure postings in the D-FW area have been falling rapidly for the last two years.
For the first 11 months of 2014, filings have averaged between 1,500 and 1,600 properties a month.
The high point for North Texas was almost 6,100 home foreclosure filings in November 2010.
“Actually, I think the bottom has been reached, but by looking at year-ago numbers, it’s a little harder to make that assumption,” said Foreclosure Listing Service’s George Roddy.
D-FW home foreclosures peaked in 2010, when almost 64,000 homes were posted for forced sale. This year there will probably be fewer than 20,000 filings.
Not all homes scheduled for foreclosure each month actually sell at auction. Many times the foreclosure is delayed while the borrower and lenders negotiate or reach other agreements.
Actual foreclosures by lenders are down by about a quarter this year, according to estimates by CoreLogic Inc. The Dallas area ranks 10th nationally for completed home foreclosures.
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