Number Of Houston Homes At Risk of Foreclosure Hits Two-Year Low

The number of Houston postings — properties on which banks have threatened to foreclose — is down more than 4% from the same time last year.

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.

 

Houston Homes Foreclosure graph

Bio photo of Andrew Schneider

Andrew Schneider

Business Reporter

Andrew Schneider joined KUHF in January 2011, after more than a decade as a print reporter for The Kiplinger Letter...