Four in 10 house sales in Arizona in the first three months of 2012 were on foreclosed properties, a foreclosure tracking company reported Thursday.
RealtyTrac of Irvine, Calif., reported in a press release that it tracked 18,523 foreclosed residential properties sold in the state in January, February and March, which was 40.1 percent of all residential sales.
The percentage made Arizona fourth highest in the country in such sales, behind Nevada, California and Georgia. It was 4.8 percent higher than the state's percentage of foreclosure sales in the last quarter of 2011 and 11.2 percent lower than such sales in the same period one year earlier.
The average sale price of a foreclosed residential property in Arizona was $128,877, RealtyTrac reported.
Nationally, 26.5 percent of all residential sales in the first quarter were of foreclosed properties, the report said.