ARIZONA FORECLOSURES DECREASE 17 PERCENT IN APRIL

Foreclosures Decrease 41 Percent From a Year Ago

Maricopa County Posts Highest Foreclosure Rate

 

IRVINE, Calif. – May 31, 2006 – Arizona reported 1,701 properties entering some stage of foreclosure in April, a 17 percent decrease from the previous month and a 41 percent decrease from the 2,883 properties reported in April 2005, according to RealtyTrac’s April 2006 U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with more than 600,000 properties from more than 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate, AOL Real Estate and Knight Ridder Online.

 

“Even though Arizona has one of the higher foreclosure rates, the numbers have been steadily declining over the past year,” said James J. Saccacio, chief executive officer of RealtyTrac.  “Strong job growth and continued home price appreciation have likely lead to this decline.”

 

With one foreclosure filing for every 1,287 households (slightly above the national average), Arizona‘s foreclosure rate ranked 14th among the 50 states. On a national basis the state’s total foreclosure activity ranked 15th,  accounting for 1.9 percent of the national total.

 

Maricopa County reported 1,124 properties entering some stage of foreclosure in April, accounting for the largest share of the state’s foreclosure filings for the month.  Pinal County’s foreclosure rate of one foreclosure filing for every 676 households was the highest in the state (1.9 times the state average).

 

Nationwide a total of 91,168 properties entered some stage of foreclosure in April, a 10 percent decrease from the previous month but a 33 percent year-over-year increase from April 2005. This marked the second straight month of decreasing U.S. foreclosure activity. At one foreclosure filing for every 1,268 households, the national foreclosure rate for April was higher than for any month in 2005.

 

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: Pre-foreclosures — Notice of Default (NOD) and Lis Pendens (LIS); Foreclosures — 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).

 

                         Arizona Foreclosure Market By County — April 2006

 

State Name

NODs

NTSs

NFSs

LISs

REOs

Total

1 in every #households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

U.S.

21,244

38,238

2,833

9,071

19,782

91,168

1,268

Arizona

103

1,510

0

0

88

1,701

1,287

.99

 

 

 

 

 

 

 

 

 

 

Apache

0

2

0

0

0

2

15,811

0.08

0.08

Cochise

0

17

0

0

1

18

2,840

0.45

0.45

Coconino

0

5

0

0

0

5

10,689

0.12

0.12

Gila

0

13

0

0

2

15

1,879

0.67

0.68

Graham

0

10

0

0

1

11

1,039

1.22

1.24

Greenlee

0

1

0

0

0

1

3,744

0.34

0.34

La Paz

0

0

0

0

0

0

 

0.00

0.00

Maricopa

85

1,000

0

0

39

1,124

1,112

1.14

1.16

Mohave

4

43

0

0

12

59

1,357

0.93

0.95

Navajo

0

20

0

0

8

28

1,693

0.75

0.76

Pima

6

173

0

0

13

192

1,910

0.66

0.67

Pinal

7

107

0

0

6

120

676

1.88

1.90

Santa Cruz

0

18

0

0

1

19

686

1.85

1.88

Yavapai

0

50

0

0

4

54

1,514

0.84

0.85

Yuma

1

51

0

0

1

53

1,399

0.91

0.92

 

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, 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 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 AOL Real Estate, MSN Real Estate and Yahoo! Real Estate. For more information, visit www.realtytrac.com.

 

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Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

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