Home prices in Dallas-Fort Worth may be rising, but so are foreclosures, too

by PegNews wire

Despite a recent upbeat report showing that Dallas-Fort Worth is second in the U.S. for new home sales and construction, it's also experiencing a ton of foreclosures: almost 30,000 so far in 2009, up 14% from 2008 -- a contradiction that this Fort Worth Business Press story handily analyzes. One thing they say that's also telltale is not just foreclosures but mortgage delinquencies -- i.e. when people don't make their payments. That's up, too, to 4.4% from 3.6% last year. One other interesting factoid: the value of homes in Texas increased 1.4% from last year, but nationally, home values decreased by 11.5%, and home prices are expected to bottom out in late 2010. Yikes.

Posted by T.G.