Austin foreclosures up from '09, steady since May - Austin Business Journal

The title should be "Austin Foreclosures Up 98%!". What spin.

-Mr. Bubble

Austin foreclosures up from '09, steady since May - Austin Business Journal

While home foreclosures have jumped dramatically from a year ago in Austin, the numbers remained steady in recent months with about 1,000 homes foreclosed on or in danger of such in June, according to a new report from RealtyTrac Inc.

June statistics

One in every 655 houses foreclosed or was in danger of foreclosing in June, a 98 percent increase from the same month in 2009. While the figure is alarming, it’s only up 6 percent from May. Most real estate experts said foreclosures would start hitting the mark in both commercial and residential real estate starting in late 2009 through most of 2010, and have stressed that overall it’s more important to rely on month-to-month figures because it more accurately reflects market stability.

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