Addison-based Foreclosure Listing Service’s newly released figures show that the number of foreclosed Dallas-Fort Worth area homes up for auction in January is 6 percent lower compared with last year.
According to the figures, 5,543 homes are ready for the January 2011 auction, down from 5,894 a year earlier.
Even so, Foreclosure Listing Service CEO George Roddy Sr. said not to expect big declines in foreclosures until employment picks up.
“DFW residential foreclosure posting activity for January remained on the extreme high end in this foreclosure cycle,” Roddy said. “Until a significant amount of workers begin to be re-employed, there is simply no reason for foreclosure postings to decline. Even re-employment in today’s market does not assure that a family’s bills will be paid because many workers are being hired at wages far lower than at their previous jobs.”
Source: Dallas Business Journal