Arizona Foreclosure Activity Falls in April

Statewide filings down 15 percent from March; rate #2 nationally

 

Monthly foreclosure activity in Arizona fell in April, down 15 percent from the previous month to 16,088 properties with foreclosure filings. This latest state total also represents a 1 percent year-over-year decrease in foreclosure filings from April 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The state had the second highest state foreclosure rate in the nation with one in 169 Arizona housing units receiving a foreclosure filing during the month.

 

“Foreclosure activity in Arizona decreased between March and April, and was slightly below the level reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Foreclosures were down in all categories for the month, with the largest monthly decline in default notices, which dropped 38 percent followed by a 21 percent decline in bank owned properties and an 11 percent decrease in auction notices.”

 

California continued to maintain the highest level of foreclosure activity in the country in April, reporting 69,725 properties with foreclosure filings for the month. Florida had the second highest total, documenting 48,384 properties with foreclosure filings. Michigan came in at third highest, reporting 19,173 properties with foreclosure filings. Illinois had the fourth highest total, reporting 16,088 properties with foreclosure filings. Nevada rose two spots to fifth, tallying 16,217 properties with foreclosure filings.

 

The remaining states in the nation’s top 10 for total foreclosure activity in April were Georgia (13,963), Texas (13,133), Ohio (11,936) and Virginia (7,065). In all, the top 10 accounted for 70 percent of all foreclosure filings in the nation for April.

 

Pinal County posted highest county foreclosure rate for April

With one in every 109 housing units receiving a foreclosure filing — 3.5 times the national average and 1.6 times the state average — Pinal County posted the highest county foreclosure rate in the state for the month. Maricopa County came in second, with one in every 139 housing units receiving a foreclosure filing — 2.8 times the national average and 1.2 times the state average. Yavapai County was third, with one in every 222 housing units receiving a foreclosure filing — 1.7 times the national average.

 

Maricopa County tops in total foreclosure activity for April

Maricopa County led all counties in the state in total foreclosure activity, reporting 11,323 properties with foreclosure filings for the month. Pima County was second highest, documenting 1,761 properties with foreclosure filings. Reporting 1,331 properties with foreclosure filings, Pinal County ranked third highest. Yavapai County was fourth, reporting 476 properties with foreclosure filings. A total of 430 properties with foreclosure filings were reported in Mohave County, the fifth highest county total in April.

 

State the sixth largest contributor to nation’s month foreclosure total

Arizona accounted for 5 percent of the 333,837 properties with foreclosure filings reported nationwide in April. Total U.S. activity declined more than 9 percent from the previous month and was 2 percent below the level reported in April 2009. One in every 387 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: Default Notice of Default (NOD) and Lis Pendens (LIS); Auction 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). If more than one foreclosure document is received for a property during the month, only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 

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

 

 

Arizona Top Foreclosure Rates By County – April 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

42,889

60,873

96,770

40,873

92,432

333,837

387

n/a

n/a

Arizona

7

6

10,623

0

5,452

16,088

169

2.28

n/a

 

 

 

 

 

 

 

 

 

 

Pinal

0

0

794

0

537

1,331

109

3.54

1.55

Maricopa

4

6

7,575

0

3,738

11,323

139

2.79

1.22

Yavapai

0

0

281

0

195

476

222

1.74

0.76

Santa Cruz

0

0

53

0

22

75

231

1.67

0.73

Mohave

0

0

234

0

196

430

237

1.63

0.71

 

 

Arizona Top Foreclosure Totals by County – April 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Mar 10

% Chg Apr 09

 

 

 

 

 

 

 

 

 

 

United States

42,889

60,873

96,770

40,873

92,432

333,837

387

-9.05

-2.40

Arizona

7

6

10,623

0

5,452

16,088

169

-14.68

-0.97

 

 

 

 

 

 

 

 

 

 

Maricopa

4

6

7,575

0

3,738

11,323

139

-16.54

0.80

Pima

3

0

1,245

0

513

1,761

242

15.78

-1.73

Pinal

0

0

794

0

537

1,331

109

-18.19

-11.33

Yavapai

0

0

281

0

195

476

222

-18.63

-5.56

Mohave

0

0

234

0

196

430

237

-41.50

-24.96

 

 

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