Arizona Foreclosure Activity Rises in November

Statewide  filings up 1 percent from October; Rate third highest

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were  reported on 10,766 Arizona properties in November, a 1 percent increase from October and 4 percent above the level reported for November 2010, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

Arizona had the third highest foreclosure rate in the nation, reporting one in every 256 housing units with a foreclosure filing in November.

California continues to lead the nation in terms of total properties with foreclosure filings by a large margin, reporting 63,689 properties with foreclosure filings. Second ranked Florida reported 24,739 properties with foreclosure filings during the month. Third  place was Michigan, where 13,777 properties with foreclosure filings were reported. Illinois had the fourth highest total, reporting 12,398 properties with foreclosure filings while Georgia took fifth place, tallying 12,327 properties with foreclosure filings.

The remaining states that make up the nation’s top 10 in November include Arizona (10,766), Ohio (10,184), Texas (10,124), Nevada (6,512) and Wisconsin (4,382). The top 10 accounted for 75 percent of the nation’s total foreclosure activity for the month.

Pinal County posts top foreclosure rate in the  state for November
One in every 137 housing units in Pinal County had a foreclosure filing in November — 4.2 times the national average and 1.9 times the state average — the highest foreclosure rate  of all Arizona counties for the month. Santa Cruz County had the second highest  rate of one in every 200 housing units with a foreclosure filing during the  month — 2.9 times the national average and 1.3 times the state average. Maricopa County had the third highest rate of one in every 219 housing units with a foreclosure filing during the month — 2.6 times the national average and 1.2  times the state average.

Maricopa County has highest foreclosure total in November
Maricopa County tallied  the highest level of foreclosure activity in the state, reporting 7,244 properties with foreclosure filings for the month. Pinal County had the second highest  total, reporting 1,078 properties with foreclosure filings. Pima County was  third, reporting 920 properties with foreclosure filings. Fourth highest was Mohave County, recording 350 properties with foreclosure filings. Yavapai County was fifth highest, tallying 329 properties with foreclosure filings for the month.

State the nation’s sixth largest contributor to total  foreclosure activity in November
Arizona accounted for 5 percent of the 224,394 properties with foreclosure filings reported nationwide in November. Total U.S. activity decreased by 3 percent from October and was down over 14 percent  from the level reported in November 2010. One in every 579 U.S. housing units received a foreclosure filing during the month.

“Despite a seasonal slowdown similar to what we’ve  seen in each of the past four years, November’s numbers suggest a new set of incoming foreclosure waves, many of which may roll into the market as REOs or  short sales sometime early next year,” said James Saccacio, co-founder of  RealtyTrac. “Overall foreclosure activity is down 14 percent from a year ago,  the smallest annual decrease over the past 12 months, and some bellwether  states such as California, Arizona and Massachusetts actually posted  year-over-year increases in foreclosure activity in November.

“Scheduled foreclosure auctions reached a  nine-month high in November, corresponding to a recent surge in default notices  that began back in August,” Saccacio continued. “Many of the new defaults that started the foreclosure process over the past few months are now being scheduled for public foreclosure auction.”

       Arizona Top Foreclosure Rates By County – November 2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

37,397

34,333

74,100

22,440

56,124

224,394

579

n/a

n/a

Arizona

11

0

7,004

0

3,751

10,766

256

2.27

n/a

 

 

 

 

 

 

 

 

 

 

Pinal

2

0

846

0

230

1,078

137

4.22

1.86

Santa Cruz

0

0

53

0

35

88

200

2.90

1.28

Maricopa

9

0

4,471

0

2,764

7,244

219

2.64

1.17

Mohave

0

0

218

0

132

350

294

1.97

0.87

Yuma

0

0

237

0

60

297

299

1.94

0.86

        Arizona Top Foreclosure Totals by County – November 2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Oct 11

% Chg Nov 10

 

 

 

 

 

 

 

 

 

 

United States

37,397

34,333

74,100

22,440

56,124

224,394

579

-2.72

-14.46

Arizona

11

0

7,004

0

3,751

10,766

256

1.32

3.68

 

 

 

 

 

 

 

 

 

 

Maricopa

9

0

4,471

0

2,764

7,244

219

0.78

0.11

Pinal

2

0

846

0

230

1,078

137

29.57

25.35

Pima

0

0

616

0

304

920

466

-27.56

-5.06

Mohave

0

0

218

0

132

350

294

-4.89

-17.26

Yavapai

0

0

224

0

105

329

325

-6.27

-4.64

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