Collin County foreclosures top 1,000 for 15th consecutive quarter
New foreclosures data collected on Collin County homes showed staggering increases from month to month, quarter to quarter and year to year.
Collin County saw a huge percent increase in home foreclosures for the first quarter of 2010 compared to the first quarter in 2009 for the March home auctions during the same time period from the previous year, according to data tabulated by the Foreclosure Listing Service.
A total of 2,181 Collin County homes went into foreclosure during the first quarter of 2010, representing a 29 percent increase from the first quarters of 2009. 721 of those homes went into foreclosure last month, according to FLS data.
The numbers may have been among the smaller totals in the Dallas-Fort Worth area, but Collin County finished first in the percentage difference from the first quarter of 2009 to 2010 and second in the monthly increases from the same period last year.
George Roddy, FLS president, said the latest numbers have been part of a long trend for Collin County.
"Residential posting activity has been on the high end of the scale for some time now," Roddy said. "For the last 15 quarters in a row, Collin County home postings have topped the 1,000 mark; and for the last four consecutive quarters, residential postings have pushed above 2,000."
The latest numbers may have more to do with seasonal trends than overall ones, Roddy said.
"Over the last year, March foreclosure postings in Collin have increased 34 percent from the 539 filed for the third auction of 2009," Roddy said. "Looking back further, Collin County postings for March of 2010 are seven times higher than they were in 2000, when only 90 homes were posted for the March foreclosure auction."
The increase also comes on the heels of a record low for foreclosures for the Collin County area, Roddy said.
"Postings filed for the February foreclosure auction fell to an 11-month low in Collin County, although postings still reached 612, which is high," Roddy said. "I said last month that it was welcome news, but that I was not holding my breath. And, in fact, postings shot right back up, climbing 18 percent in just one month with 721 homes threatened by foreclosure at the March foreclosure auction."
Collin County foreclosures top 1,000 for 15th consecutive quarter
