Foreclosure Home Housing & Foreclosure Reports Arizona Foreclosure Activity Rises in January

Arizona Foreclosure Activity Rises in January

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Statewide filings up 14 percent from December; Rate third highest

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 8,749 Arizona properties in January, a 14 percent increase from December, but still 44 percent below the level reported for January 2011, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

Arizona had the third highest foreclosure rate, reporting one in every 325 Arizona housing units with a foreclosure filing in January.

California continues to lead the nation in terms of total properties with foreclosure filings by a large margin, reporting 51,584 properties with foreclosure filings. Second ranked Florida reported 24,783 properties with foreclosure filings during the month. Third place was Illinois, where 14,349 properties with foreclosure filings were reported. Michigan had the fourth highest total, reporting 12,808 properties with foreclosure filings while Georgia took fifth place, tallying 12,467 properties with foreclosure filings.

The remaining states that make up the nation’s top 10 in January include Texas (9,085), Arizona, Ohio (8,325), Nevada (5,931) and Indiana (5,039). The top 10 accounted for 73 percent of the nation’s total foreclosure activity for the month.

Pinal County posts top foreclosure rate in the state for January
 One in every 236 housing units in Pinal County had a foreclosure filing in January — 2.6 times the national average and 1.4 times the state average — the highest foreclosure rate of all Arizona counties for the month. Maricopa County had the second highest rate of one in every 274 housing units with a foreclosure filing during the month — 2.3 times the national average and 1.2 times the state average. Yavapai County had the third highest rate of one in every 311 housing units with a foreclosure filing during the month — twice the national average and 1.1 times the state average.

Maricopa County leads state in foreclosure activity in January
 Maricopa County led all counties, reporting 5,987 properties with foreclosure filings for the month. Pima County had the second highest total, reporting 1,004 properties with foreclosure filings. Pinal County was third, reporting 674 properties with foreclosure filings. Fourth highest was Yavapai County, recording 355 properties with foreclosure filings. Mohave County was fifth highest, tallying 195 properties with foreclosure filings for the month.

State a major contributor to total foreclosure activity in January
 Arizona accounted for 4 percent of the 210,941 properties with foreclosure filings reported nationwide in January. Total U.S. activity increased by 3 percent from December, but was still down over 19 percent from the level reported in January 2011. One in every 624 U.S. housing units received a foreclosure filing during the month.

“Although overall foreclosure activity was down from a year ago for the 16th straight month in January, we continue to see signs on a local and regional level that the frozen-up foreclosure process is beginning to thaw,” said Brandon Moore, CEO of RealtyTrac. “Foreclosure activity increased on a year-over-year basis for the first time in more than 12 months in Florida, Michigan, Indiana and Pennsylvania, following a pattern we saw in late 2011 in states such as California, Arizona and Massachusetts.

“We expect the pattern of increasing foreclosures to continue in the coming months, especially given the finalized mortgage and foreclosure settlement

 Arizona Top Foreclosure Rates By County – January 2012

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

24,531

33,831

62,260

23,777

66,542

210,941

624

n/a

n/a

Arizona

0

0

4,399

0

4,350

8,749

325

1.92

n/a

 

 

 

 

 

 

 

 

 

 

Pinal

0

0

366

0

308

674

236

2.64

1.38

Maricopa

0

0

3,148

0

2,839

5,987

274

2.28

1.19

Yavapai

0

0

164

0

191

355

311

2.01

1.05

Pima

0

0

462

0

542

1,004

439

1.42

0.74

Santa Cruz

0

0

10

0

29

39

462

1.35

0.70

 Arizona Top Foreclosure Totals by County – January 2012

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg   Dec 11

% Chg   Jan 11

 

 

 

 

 

 

 

 

 

 

United States

24,531

33,831

62,260

23,777

66,542

210,941

624

2.89

-19.28

Arizona

0

0

4,399

0

4,350

8,749

325

13.53

-44.48

 

 

 

 

 

 

 

 

 

 

Maricopa

0

0

3,148

0

2,839

5,987

274

11.70

-43.74

Pima

0

0

462

0

542

1,004

439

11.43

-41.76

Pinal

0

0

366

0

308

674

236

25.98

-54.67

Yavapai

0

0

164

0

191

355

311

19.13

-31.99

Mohave

0

0

61

0

134

195

569

2.63

-61.99


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