Number Of Houston Homes At Risk of Foreclosure Hits Two-Year Low
by: Andrew Schneider, August 28, 2012 12:08:00 am
The Foreclosure & Information Listing Service says Houston postings dropped to just under 3,000 this month, down from more than 3,100 in August of 2011.
Patrick Jankowski is vice president of research for the Greater Houston Partnership.
“Long term, it’s been declining for quite some time now. If you look back, the year-over-year decline started about fourteen months ago, and that fits into about when we started seeing the economy really getting strong.”
The twelve-month total of postings is now down to just under 39,000, its lowest point in more than two years.
Houston saw just under 900 foreclosures in August, essentially flat compared to last year. Jankowski says that suggests foreclosure activity is back to normal and is no longer having a significant effect on the Houston economy.