Addison-based Foreclosure Listing Service’s newly released figures show that the number of foreclosed Dallas-Fort Worth area homes up for auction in January is 6 percent lower compared with last year.
According to the figures, 5,543 homes are ready for the January 2011 auction, down from 5,894 a year earlier.
Even so, Foreclosure Listing Service CEO George Roddy Sr. said not to expect big declines in foreclosures until employment picks up.
â€œDFW residential foreclosure posting activity for January remained on the extreme high end in this foreclosure cycle,â€ Roddy said. â€œUntil a significant amount of workers begin to be re-employed, there is simply no reason for foreclosure postings to decline. Even re-employment in todayâ€™s market does not assure that a familyâ€™s bills will be paid because many workers are being hired at wages far lower than at their previous jobs.â€