Foreclosures increase 52 percent in Central Texas

from Austin Business Journal
Foreclosures for January 2009 rose 52 percent over the same month last year for the nine-county Central Texas region.

Postings filed for the upcoming Jan. 6 auction totaled 2,329 notices, compared with the 1,534 postings filed for the same month last year, according to Addison-based Foreclosure Listing Service Inc.

While the coastal markets were impacted by the rapid decline in property values leading to an increase in foreclosures, foreclosure increases in markets that weren’t so frothy likely indicate recessionary impacts.