Figures for foreclosures and bank owned houses continued to increase in Austin, Texas in 2010. Last year, foreclosure-related filings in the metro area and the rest of the state recorded considerable increases compared with the years since the housing market crisis started around four years ago.

Filings that are related to foreclosed and bank owned homes in Austin totaled 9,809 in 2010, representing a 23% jump from the previous period. Total foreclosure-related filings for 2009 were at 8,002. The figure for 2010 also represents a 70% rise when compared with 2008 figures and a 90% rise compared with 2007 figures. The year-end data also showed that 1.49% of properties in Austin received a filing during the period, with a ratio of one household out of every 81 residential units.

Meanwhile, Texas bank owned homes and foreclosures also increased last year. Statewide, filings for foreclosures totaled 118,923, representing a rise of 19% compared with 2009 figures and up 24% compared with 2008 levels. When held against 2007 data, statewide filings last year rose by 41%. Texas was ranked 29th nationwide last year in terms of foreclosure totals.

Bank owned houses and foreclosed dwelling numbers in Texas might have jumped last year, but the region's total was still lower than most U.S. states. For 2010, 1.24% of housing units in Texas received a filing for foreclosure, which means that one household out of 67 received a filing during the period. This ratio is better compared with the national average wherein one household out of every 45 has a filing.

Nationwide, the number of bank, government, and FNMA foreclosures also increased in 2010, with a total of 2.9 million properties all over the U.S. being in some form of foreclosure during the year. The figure represents a 2% rise compared with 2009. According to housing analysts, the moratorium on the sale of foreclosed properties that was put in place during the fourth quarter of last year helped lower the filings total for 2010.

Housing market observers predict that bank owned houses and foreclosed properties will continue to increase in 2011 not only in Austin and Texas, but also in the whole U.S. Prices of homes, however, are expected to remain low for majority of U.S. markets.