Markets & Economy

Houston foreclosure stats don’t foreshadow impending doom

Houston's MSA has one of the lowest rates in the country, says RealtyTrac
  • Houston has the lowest foreclosure ranking out of the top 20 largest metros.
  • Month-over-month, the foreclosure rate dropped by an impressive 26.81 percent from December 2015.
  • Year-over-year, Houston’s foreclosure rate dropped a little bit - by 3.94 percent over January 2015.

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For all the gloom and doom that is heard lately about the Houston economy, that city’s foreclosure numbers for 2015 don’t seem to suggest that the housing market is falling off a cliff. Data firm RealtyTrac just crunched foreclosure numbers for the country for 2015. Houston is a star performer on the resulting list. The Houston MSA-- which consists of Houston, The Woodlands and Sugar Land-- ranked 180th in the nation for foreclosures. RealtyTrac computes that number by dividing the total number of housing units in an area by the number of foreclosures. That’s only for the biggest metros in the nation - those with a population of 200,000 or better. Houston is the fifth most populous metro in the nation. And, it has the lowest foreclosure ranking out of the top 20 largest metros. In January of 2016, Houston had 901 homes at some point in the foreclosure process. To determine the ranking, the number of housing units in the metro is divided by the number of foreclosures. T...