Home > Market Updates, Uncategorized > Fewer Harris County foreclosures posted in May

Fewer Harris County foreclosures posted in May

The number of Harris County residential and commercial properties posted for foreclosure in May was the lowest since March 2009, suggesting the worst of the foreclosure crises may be over.
  

Activity from the May 3 foreclosure auction reported by Foreclosure Information & Listing Service Inc. supports the firm’s analysis that the foreclosure crises may be abating.

A total of 2,973 properties were posted for foreclosure at this month’s Harris County auction. That’s a 27.4 percent decrease from last month’s 4,094 postings, and the lowest amount since 2,602 properties were posted in March 2009.

The number of properties that were actually foreclosed on reached 773 this month, a 17.2 percent decrease from the 934 properties that were foreclosed on in April and a 19.3 percent decrease from 958 foreclosures in May 2010.

Reprint from Houston Business Journal – by Jennifer Dawson, Reporter

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