Arlington Area Housing Market Improving
The housing market seems to be improving in the Dallas-Fort Worth area.
According to a new report from CoreLogic, the number of completed home foreclosures in the Dallas-Fort Worth area during the last year has dropped 36 percent from 2012 levels. Lenders foreclosed on 7,264 area homes during the 12-month period ending in October—the lowest volume in more than five years.
Overall, the metroplex ranked ninth nationally for foreclosures among the major cities CoreLogic surveyed. The percentage of seriously delinquent late home loans fell to 3.6 percent – down from 4.35 percent in October 2012.
City of Arlington leaders are also encouraged by the number of new single family permits issued, which for FY2013 increased 147 percent over FY2012. There were 580 new single family permits issued in 2013, which is an increase of 185 permits over the previous year.
In addition, the average single family valuation increased from $189,000 in 2012 to $209,000 for 2013.