ARIZONA FORECLOSURES DECREASE 5 PERCENT IN JULY

State’s Activity Up 1 Percent From a Year Ago

 

IRVINE, Calif. – July 31, 2006 –  Arizona reported 2,030 properties entering some stage of the foreclosure process in July, a 5 percent decrease in activity from the 2,131 properties reported in June, but a 1 percent increase from the 2,009 properties reported for the same month last year, according to the RealtyTrac™ July 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.

 

“Although Arizona foreclosures decreased slightly in July, the state still has one of the higher foreclosure rates in the nation,” said James J. Saccacio, chief executive officer of RealtyTrac.  “Statistics continue to show that the state’s per capita personal income levels remain below the national average.  This, in addition to the slowing of home sales, may be contributing to these high rates.”

 

Arizona ranked 14th in the nation for total foreclosures in July. The state’s foreclosure rate of one new foreclosure filing for every 1,078 households — 16 percent above the national average — ranks it 12th among the 50 states.

 

Top Three Counties Accounted for Largest Share of State Total

Three counties accounted for 85 percent of all foreclosures in the state of Arizona for July.  Leading the state in foreclosures for the month was Maricopa County, reporting 1,308 properties entering some stage of the foreclosure process.  Pima County came in second, reporting 277 properties followed by Pinal County, reporting 134 properties entering some stage of the foreclosure process.  

 

Highest Foreclosure Rate Posted in Pinal County

Pinal County posted the state’s highest foreclosure rate in July, reporting one new foreclosure filing for every 606 households – 1.8 times the state average and 2.1 times the national average.  Reporting one new foreclosure filing for every 651 households – 1.7 times the state average and 1.9 times the national average – Mohave County had the second highest foreclosure rate, followed by Maricopa County with one new foreclosure filing for every 956 households – 1.1 times the state average and 1.3 times the national average. 

 

State Accounts for 2.2 Percent of National Total

Arizona‘s foreclosure activity accounted for 2.2 percent of the 92,845 properties entering some stage of the foreclosure process nationwide in July. The national total represents a 5 percent increase from the 88,194 foreclosures reported in June. The nation’s foreclosure rate increased to one new foreclosure filing for every 1,245 households during 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: 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 – July 2006

 

County Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

20,202

38,173

4,795

13,295

16,380

92,845

1,245

Arizona

0

0

1,748

215

67

2,030

1,078

1.16

 

 

 

 

 

 

 

 

 

 

Apache

0

0

1

0

1

2

15,811

0.08

0.07

Cochise

0

0

36

0

4

40

1,278

0.97

0.84

Coconino

0

0

7

1

0

8

6,680

0.19

0.16

Gila

0

0

12

0

0

12

2,349

0.53

0.46

Graham

0

0

7

1

1

9

1,270

0.98

0.85

Greenlee

0

0

1

0

0

1

3,744

0.33

0.29

La Paz

0

0

2

0

0

2

7,567

0.16

0.14

Maricopa

0

0

1,096

191

21

1,308

956

1.30

1.13

Mohave

0

0

98

10

15

123

651

1.91

1.66

Navajo

0

0

6

0

1

7

6,773

0.18

0.16

Pima

0

0

260

3

14

277

1,324

0.94

0.81

Pinal

0

0

124

6

4

134

606

2.06

1.78

Santa Cruz

0

0

0

0

1

1

13,036

0.10

0.08

Yavapai

0

0

74

3

3

80

1,022

1.22

1.06

Yuma

0

0

24

0

2

26

2,852

0.44

0.38

 

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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