Sunday, September 25, 2022

Foreclosure postings reach new high

For the first half of this year, 3,647 foreclosure postings have been filed against single-family homes, condominiums, and townhomes in Denton County, representing a 15% increase over last year, according to Foreclosure Listing Service, Inc.

“Although it seems strange to already be talking about statistics for the first-half of the year, especially since we are still in the month of May, we are able to do so because the filing deadline has already passed to post a property for foreclosure at the June auctions,” said George Roddy, Sr., President of Foreclosure Listing Service, Inc.

Roddy said that, looking forward at the upcoming auction on June 1st, Denton County residential defaults are up slightly, with 554 foreclosure postings compared to 533 last June.

In the four county North Texas area as a whole, monthly foreclosure posting activity has dropped to its lowest level in 15 months with 4,686 postings filed on D/FW homes in June.

For the past two consecutive months, monthly foreclosure postings have dipped below the 5,000 mark, where posting activity has been poised in 11 of the last 15 months.

“While this is certainly no indication that this foreclosure crunch is over, it is welcomed news, but it is simply too early to jump for joy,” said Roddy.

“Two months of improvement does not create a new trend, which takes at least six months of consistent performance.”

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