The glut of area foreclosures is continuing its downward trend, with the number of homes expected in forced sale this year to be half of 2010 levels.

A total of 1,715 homes in Dallas, Tarrant, Collin and Denton counties are posted for foreclosure this month, down from the more than 6,000 foreclosure postings reported in November 2010. The percentage of mortgages that are at least 90 days behind on payments was also down in January, to 4.28 percent.

Real Estate Center Research Economist Dr. James Gaines said the housing market is showing signs of promise.

D’Ann Petersen of the Federal Reserve Bank of Dallas agrees that things are moving in the right direction. “I think we are through the worst of it,” Petersen said. “Investors are snapping up properties. The condo market is even coming back. And the Realtors I talk to are begging for prospective properties.”

Source: Dallas Morning News