DataMarkets & Economy

Foreclosures in Houston falling alongside the oil industry

RealtyTrac's data finds national foreclosure rates have fallen for the eighth consecutive month
  • RealtyTrac reports foreclosure activity is below 2006 levels throughout the nation, but 18 states are still posting gains.
  • Houston-The Woodlands-Sugar Land metro foreclosure activity fell 7.56 percent and 12.72 percent on a monthly and annual basis in May.
  • Austin and Waller counties both had no foreclosures or homes in the foreclosure process in May 2016.

A sure-fire sign of an improving real estate market is the fall of foreclosure activity, and luckily those trends are down throughout the nation for the eighth consecutive month, according to RealtyTrac's newly released data. Monitoring foreclosure activity throughout the nation down to a city level, the data showed that foreclosure activity is below 2006 average monthly levels. However, not all states are measuring equally. RealtyTrac reported 18 states and the District of Columbia posted a year-over-year increase in foreclosures. The highest foreclosure rates were seen in Delaware, Florida, Nevada, Maryland and New Jersey. A few metro areas witnessed gains in foreclosure activity as well, including Rockford, Illinois; Trenton, New Jersey; Tuscon, Arizona and St. Petersburg, Florida. Despite falling oil prices, the housing market in Houston is fairing pretty well. On a monthly and annual basis in the Houston-The Woodlands-Sugar Land metro area, foreclosure rates hav...