ARIZONA FORECLOSURES DECREASE 4 PERCENT IN JUNE

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 168 Percent From a Year Ago; Foreclosure Rate in Nation’s Top 5

 

IRVINE, Calif. – July 31, 2007 – Arizona reported 5,711 foreclosure filings in June, down 4 percent from the previous month, but still a 168 percent increase from the June 2006, according to the latest RealtyTrac™ U.S. Foreclosure Market Report. The state posted the fifth highest foreclosure rate in the nation, one foreclosure filing for every 383 households — 1.8 times the national average.

 

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1 million properties from nearly 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.

 

“Although Arizona’a foreclosure filings fell slightly in June, the state’s housing market remains largely flat,” said James J. Saccacio, chief executive officer of RealtyTrac. Home values have stopped appreciating in Arizona. This is bad news for people in foreclosure who are looking to sell quickly — and hoping to walk away from a downward housing market.

 

Overall, the Grand Canyon State tallied the eighth highest foreclosure total in the nation for June, well behind national leader California which reported 38,801 foreclosure filings for the month. The state barely snuck into eighth place with only 44 fewer foreclosure filings than seventh place Illinois and six more than ninth ranked Colorado. The remaining states in the nation’s top 10 foreclosure totals for the month included Florida in second, followed by Ohio, Michigan, Texas, and Georgia with New Jersey in tenth place.

 

Maricopa County accounts for most of state’s foreclosure activity

Maricopa County accounted for 68 percent of all foreclosure activity in the state for June, with 3,935 foreclosure filings during the month. Pima County came in second, reporting 824 foreclosure filings. Pinal County documented the third highest total with 415 foreclosure filings in the pipeline.

 

Pinal County reports highest foreclosure rate in state

Pinal County tallied the highest foreclosure rate in Arizona for June, one foreclosure filing for every 196 households — twice the state average and 3.6 times the national average. Santa Cruz County had the second highest foreclosure rate, one foreclosure filing for every 261 households — 1.5 times the state average and 2.7 times the national average. Maricopa County reported the third highest rate, one foreclosure filing for every 318 households — 1.2 times the state average and 2.2 times the national average.

 

State makes significant contribution to national total

Total foreclosure filings in Arizona accounted for 3 percent of the 164,644 foreclosure filings nationwide in June. The national total was down 7 percent from the previous month but still up 87 percent from June 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 704 U.S. households for the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. RealtyTrac’s report includes properties in all three phases of foreclosure: Defaults — Notice of Default (NOD) and Lis Pendens (LIS); Auctions — Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank).

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

 

                       Arizona Foreclosure Market by County – June 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

36,048

51,492

12,488

38,247

26,369

164,644

704

n/a

n/a

Arizona

6

1,056

3,740

20

889

5,711

383

1.84

n/a

 

 

 

 

 

 

 

 

 

 

Apache

0

0

2

0

0

2

15,811

0.04

0.02

Cochise

0

1

31

0

9

41

1,247

0.56

0.31

Coconino

1

3

16

0

1

21

2,545

0.28

0.15

Gila

0

0

8

0

3

11

2,563

0.27

0.15

Graham

0

0

6

0

1

7

1,633

0.43

0.23

Greenlee

0

0

0

0

1

1

3,744

0.19

0.10

La Paz

0

0

2

0

1

3

5,044

0.14

0.08

Maricopa

4

828

2,406

13

684

3,935

318

2.22

1.21

Mohave

0

4

153

2

41

200

400

1.76

0.96

Navajo

0

3

63

1

2

69

687

1.02

0.56

Pima

1

136

612

0

75

824

445

1.58

0.86

Pinal

0

29

335

4

47

415

196

3.60

1.96

Santa Cruz

0

0

37

0

13

50

261

2.70

1.47

Yavapai

0

49

37

0

6

92

888

0.79

0.43

Yuma

0

3

32

0

5

40

1,854

0.38

0.21

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastest growing private companies, RealtyTrac Inc. (www.realtytrac.com), is the leading online marketplace for foreclosure properties, providing all the resources that home seekers, investors and real estate agents need to locate, evaluate and buy properties below market value.

 

Founded in 1996, RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure, foreclosure, For Sale By Owner, resale and new construction properties, with more than 1.3 million properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts nearly 3 million unique visitors monthly and has been chosen to supply foreclosure data to MSN Real Estate, Yahoo! Real Estate and the Wall Street Journal’s Real Estate Journal. For more information, visit (www.realtytrac.com).

 

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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