Texas foreclosures are HALF of the National Average, according to the Houston Business Journal! This is great news for Texas, and Austin being such a go-to place for relocation.
According to numbers released by RealtyTrac last week, with the National Average of foreclosures at 24%, Texas saw a rate of a mere 11.9% in the second quarter. What's better news is this number isn't about actual foreclosures. This number is based off a transaction in some form of foreclosure process, meaning a pre-foreclosure where the bank hasn't actually taken control yet.
Reading between those lines, I would stipulate that well under 10% of real estate transactions in Texas are actually in a full foreclosure state. This goes along with the numbers I was talking about in my Austin TX foreclosure breakdown a couple of weeks ago.
I don't agree with the report saying the homes have been bought at a 25.6% discount just because they average a sales price of $142,069. The average is low because, as I showed in my previous report, most of the foreclosures are in the lower price range. Why they like to jump to unrealistic conclusions and give a 25% discount to those listings is beyond me... but anyone can manipulate numbers to look how they want them to look, and RealtyTrac likes letting people know you can get a big discount when you buy foreclosures, which is just not true in the Austin or most of the Texas markets across the state.
Either way, We're going strong, and foreclosures are down!!
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* Real Estate - Austin TX Homes for Sale are Selling Strong * was first published on donnahomesblog.com