No wonder the home builders all want to come here. No wonder everyone is moving here. A report out today from a major researcher housing indexer says we have one of the lowest home foreclosure rates among major U.S. cities.
At the end of 2011, 3.4 homes were in foreclosure across the nation, but in Dallas, only 1.4 percent were in foreclosure.
CoreLogic says the biggest bad boys now are Orlando with 12.2 percent and Tampa at 12.1 percent of homes in foreclosure.
Dallas and Seattle tied as the lowest foreclosure rate cities among the 25 major markets CoreLogic detailed. We even beat out Denver, with 1.5 percent, and Houston, with 1.6 percent, though I keep hearing that the Houston housing market is better than our’s.
U.S. home foreclosures in 2011 totaled 830,000 units, which is down from 1.1 million in 2010. Can we say the worst may be behind us? Maybe.
“The inventory of foreclosed properties has begun to shrink, and the pace at which properties are entering foreclosure is slowing,” Mark Fleming, chief economist with CoreLogic.
This is one reason why I like Corelogic over case-Shiller: CoreLogic also said the Dallas area has one of the lowest home loan delinquency rates among the 25 major U.S. markets it tracks. So the lenders should all be opening their pockets here to end, right?