Austin foreclosure rate up in October

Category: Residental, Travis County No Comment January 6, 2012

It looks like the Austin housing market is performing poorly, as the number of foreclosures went up. However, we aren’t talking about a dramatic increase but a light 0.05% rise, but it is still a rise, compared to a year prior.

CoreLogic released its latest data covering October foreclosures in the Austin area, saying that residential foreclosures trend upwards. The numbers the company underscored: Austin foreclosures rose 1.06% compared to September 2011, and went up 0.05% compared to October 2010.

On the other hand it must be mentioned here, that the Austin housing market is still performing better than the national market. The countrywide foreclosure rate hit 3-51% for October 2011, which means there is 2.45% difference.

The data supplied by CoreLogic includes mortgage delinquency rate statistics. In this field, October recorded only 3.17% of seriously delinquent mortgages in the area, compared to 3-44% for the same period a year prior.