/ Modified may 9, 2013 6:02 a.m.

AZ Foreclosures Drop 48.6%

Steady improvement aligns with rising housing prices

Home foreclosure filings in Arizona fell again in April, down 48.6 percent in one year, a marketing company reported Thursday.

The decline moved the state to 10th worst nationally, down from seventh in March, reported RealtyTrac, an Irvine, Calif., company that bills itself as a marketplace for foreclosed properties.

The report came the same week of reports that Arizona housing prices have risen sharply in the last year, up 16 percent overall and up 33 percent in the Phoenix metropolitan area.

RealtyTrac counted 3,882 foreclosure filings in the state in April, one for every 726 housing units in Arizona. The figure does not necessarily represent the number of properties, because RealtyTrac includes documents filed as default notices, notices of trustee sales and foreclosure sales and bank repurchases. Thus, one property could have more than one filing against it.

In Pima County, 417 foreclosure filings were reported by RealtyTrac, down 41.5 percent from one year earlier. Maricopa County reported 2,820 filings, down 51.0 percent.

Nationally, foreclosure filings fell 23 percent in April from one year earlier, the company reported. It said national foreclosure activity was the lowest in more than six years.

By posting comments, you agree to our
AZPM encourages comments, but comments that contain profanity, unrelated information, threats, libel, defamatory statements, obscenities, pornography or that violate the law are not allowed. Comments that promote commercial products or services are not allowed. Comments in violation of this policy will be removed. Continued posting of comments that violate this policy will result in the commenter being banned from the site.

By submitting your comments, you hereby give AZPM the right to post your comments and potentially use them in any other form of media operated by this institution.
Arizona Public Media broadcast stations are licensed to the Arizona Board of Regents. Arizona Public Media and AZPM are registered trademarks of the Arizona Board of Regents.
The University of Arizona