According to Dr. James Gaines, research economist with the Texas Real Estate Center, Texas lenders reported 27,649 single-family residential foreclosures in 2005. But this number is low, as it reflects only the sales in which lenders reacquired properties.
The preliminary figures for 2006 are not encouraging. Based on the first four months, Texas lenders expect to foreclose and acquire nearly 30,000 single-family properties this year. In April, Texas led the nation in foreclosures. Read more about foreclosures in Texas.
Source: Tierra Grande
