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Houston Foreclosures Down 49.1% From Peak

by Peter Thomas Ricci

The Houston housing market has made considerable strides in the last year, according to CoreLogic’s latest MarketPulse.

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Home foreclosures in the Houston housing market are down 49.1 percent from their peak, according to the latest MarketPulse report from CoreLogic, which covered housing data through 2013.

Other important findings from the MarketPulse report included:

  • Total sales in the Houston area were up 8.6 percent in 2013, with distressed sales making up just 12.1 percent of all purchases; though relatively low, that’s down from 17.6 percent from 2012.
  • Home prices, meanwhile, rose 10.7 percent from 2012 to 2013, and remarkably, they have now matched their bubble-era peak.
  • Of the area’s mortgage properties, just 3.5 percent are still seriously delinquent, and that’s down 19.3 percent from 2012; also, though 2013’s third quarter, just 4.2 percent of mortgaged properties were in negative equity, and there remains a 2.6-months supply of distressed homes.

How did our local market compare with CoreLogic’s national findings? See our graphic below for some perspective:

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