The foreclosure crisis his the entire nation hard, but some cities and states were affected more so than others. A new report suggests that Dallas-Fort Worth was one of the luckier cities, dodging the brunt of the trouble and maintaining a low foreclosure rate.
Like much of the country, the rate of Dallas foreclosures is decreasing. Even better is that the overall number of foreclosures impacting local residents has been surprisingly low since the start of the mortgage debt crisis.
A new report by analysts at CoreLogic Inc. reports that only Denver had a lower foreclosure rate in September than Dallas. With a foreclosure filing rate of 1.4 percent among homes in Dallas, the rate is estimated to be less than have the national average among 25 of the major U.S. markets.
Overall, homes entering foreclosure are down 50 percent compared to this time last year, a significant improvement in just a short time. The report also predicts that, at this rate, the real estate market could return to pre-crisis level sooner than originally participated. However, that end goal will take time.