Houston Real Estate News: Positive Trend
Many people are wondering how the real estate market is holding up these past few months. In a recent article by Houston Business Journal, it was reported that Houston home foreclosures fell in 2015, despite the oil slump.
While there are many reasons why foreclosures affect certain areas— this percentage reveals a positive trend for the Houston housing market.
Paul Takahashi reported:
Houston had 6,067 completed foreclosures in 2015, a 28 percent drop year over year, according to CoreLogic Inc. (NYSE: CLGX).
The number of homes in the foreclosure process also fell 18.5 percent in 2015, although it ticked up a slight 0.6 percent in December, according to the Irvine, California-based real estate research firm.
The number of seriously delinquent mortgage payments — where loan repayments are 90 days late or more — also fell in Houston. A mere 2.6 percent of homeowners were seriously late on their mortgage payments in 2015, a drop of 14.7 percent year over year, according to CoreLogic.
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