Arizona Foreclosure Activity Rises in October

Statewide filings up 18 percent  from September; Rate third highest

Foreclosure filings — default  notices, scheduled auctions and bank repossessions — rose 18 percent in Arizona to 10,626  properties in October. However, the total is 36 percent below the level  reported for October 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 259 housing units with a foreclosure  filing in October.

California continues to lead the nation in terms of total  properties with foreclosure filings by a large margin, reporting 55,312  properties with foreclosure filings in October. Second ranked Florida reported 33,073 properties with  foreclosure filings during the month. Third place was Michigan, where 16,106 properties  with foreclosure filings were reported. Illinois  had the fourth highest total, reporting 12,522 properties with foreclosure  filings while Arizona  took fifth place.

The remaining states that make up the nation’s  top 10 in October include Georgia (10,010), Texas (9,845), Ohio (8,691), Nevada  (6,307) and Colorado (4,729). The top 10 accounted for 72 percent of the  nation’s total foreclosure activity for the month.

Pinal County posts top foreclosure rate in the  state for October
  One in every 178 housing units in Pinal County  had a foreclosure filing in October — 3.2 times the national average and 1.5  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 221 housing units with a  foreclosure filing during the month — 2.6 times the national average and 1.2  times the state average. Mohave   County had the third  highest rate of one in every 280 housing units with a foreclosure filing — twice  the national average and on par with the the state average.

Maricopa County has state’s highest foreclosure  total in October
  Maricopa County had the highest level of foreclosure activity in  the state, reporting 7,188 properties with foreclosure filings for October. Pima  County was second highest, reporting 1,270 properties with foreclosure filings.  Pinal County was third, reporting 832 properties with foreclosure filings. Fourth  highest was Mohave County, recording 368 properties with foreclosure filings. Yavapai  County was fifth highest, tallying 351 properties with foreclosure filings for  the month.

State the nation’s fifth largest contributor to total  foreclosure activity in October
  Arizona accounted for 5 percent of the 230,678  properties with foreclosure filings reported nationwide in October. Total U.S. activity  increased by more than 7 percent from September, but was down nearly 31 percent  from the level reported in October 2010. One in every 563 U.S. housing units received  a foreclosure filing during the month.

“The October foreclosure numbers continue to show strong signs that  foreclosure activity is coming out of the rain delay we’ve been in for the past  year as lenders corrected foreclosure paperwork and processing problems,” said  James Saccacio, chief executive officer of RealtyTrac. “However, recent state  court rulings and new state laws keep changing the rules of the foreclosure  game on the fly, creating more uncertainty in the housing market and  threatening to prolong the road to a robust real estate recovery.”

 

                         Arizona Top Foreclosure Rates By County – October 2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

38,451

39,282

59,380

25,941

67,624

230,678

563

n/a

n/a

Arizona

13

0

6,419

0

4,194

10,626

259

2.17

n/a

 

 

 

 

 

 

 

 

 

 

Pinal

0

0

463

0

369

832

178

3.17

1.46

Maricopa

13

0

4,430

0

2,745

7,188

221

2.55

1.17

Mohave

0

0

220

0

148

368

280

2.01

0.93

Santa Cruz

0

0

40

0

19

59

298

1.89

0.87

Yavapai

0

0

214

0

137

351

305

1.85

0.85

 Arizona Top Foreclosure Totals by County – October 2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Sep 11

% Chg Oct 10

 

 

 

 

 

 

 

 

 

 

United States

38,451

39,282

59,380

25,941

67,624

230,678

563

7.36

-30.55

Arizona

13

0

6,419

0

4,194

10,626

259

17.78

-35.75

 

 

 

 

 

 

 

 

 

 

Maricopa

13

0

4,430

0

2,745

7,188

221

26.19

-38.47

Pima

0

0

686

0

584

1,270

337

10.24

-21.31

Pinal

0

0

463

0

369

832

178

5.72

-46.11

Mohave

0

0

220

0

148

368

280

0.55

-26.69

Yavapai

0

0

214

0

137

351

305

-8.83

-22.52

 

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