Foreclosure activity drops in Texas

TEXAS – The foreclosure side of Texas’ housing market is seeing impressive declines. According to the May 2013 analysis by Irvine, Calif.-based RealtyTrac, over the 31 days ended May 31, 2013, a total of 5,490 foreclosures were filed in the state of Texas — down 52.1 percent from the previous May.

That figure averages out to one filing for every 1,798 households in Texas.

Those 5,490 foreclosure filings include foreclosure postings carried over from previous months and those properties entering the foreclosure process for the first time (foreclosure starts).

A total of 4,113 Texas homes entered the process in May 2013 — a 49.4 percent decline from the number of starts reported for the previous May.

RealtyTrac reports that Texas recorded a total of 1,377 foreclosure completions in May 2013 — down 58.8 percent from the number of completions recorded for May 2012.