ARIZONA FORECLOSURES DOWN 17 PERCENT IN DECEMBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

State’s Activity Level Up 8 Percent From a Year Ago

 

IRVINE, Calif. – Jan. 15, 2007 – Arizona reported 2,525 properties entering some stage of the foreclosure process in December, down 17 percent from the 3,042 properties reported in November, but still 8 percent above the 2,348 properties reported for the same month last year, according to the RealtyTrac™ U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 700,000 properties from nearly 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.

 

“Although Arizona foreclosures decreased in December, the numbers are slightly up from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Lagging home sales and record-high inventories are likely contributing to the overall rise.”

 

Arizona ranked 15th in the country in total foreclosures reported for December. The state’s foreclosure rate of one new foreclosure filing for every 867 households — 1.2 times the national average — ranks it 12th among the 50 states.

 

Maricopa County accounts for largest share of state total

Maricopa County lead the state in foreclosures for the month, reporting 1,694 properties entering some stage of the foreclosure process. Pima County held the second highest total, reporting 383 properties entering some stage of the foreclosure process, followed by Pinal County where 208 properties entered the foreclosure pipeline.

 

State’s top foreclosure rate found in Pinal County

The state’s highest foreclosure rate for December was posted in Pinal County with one new foreclosure filing for every 390 households — 2.2 times the state average and 2.7 times the national average. Maricopa County reported the second highest foreclosure rate with one new foreclosure filing for every 738 households — 1.2 times the state average and 1.4 times the national average — followed by Pima County with one new foreclosure filing for every 958 households — 1.1 times the national average.

 

State makes a mark on the national total

Arizona’s foreclosure activity accounted for 2.3 percent of the 109,652 properties entering some stage of foreclosure nationwide in December. The national total represents a 9 percent decrease from the 120,334 foreclosures reported in November. The nation’s foreclosure rate decreased to one new foreclosure filing for every 1,055 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).

 

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

 

    

                         Arizona Foreclosure Market by County – December 2006

 

County Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

26,593

41,292

5,472

15,887

20,408

109,652

1,055

n/a

n/a

Arizona

0

6

2,352

13

154

2,525

867

1.22

n/a

 

 

 

 

 

 

 

 

 

 

Apache

0

0

1

0

0

1

31,621

0.03

0.03

Cochise

0

0

26

0

6

32

1,598

0.66

0.54

Coconino

0

0

23

1

1

25

2,138

0.49

0.41

Gila

0

0

7

0

1

8

3,524

0.30

0.25

Graham

0

0

8

0

0

8

1,429

0.74

0.61

Greenlee

0

0

2

0

0

2

1,872

0.56

0.46

La Paz

0

0

1

0

0

1

15,133

0.07

0.06

Maricopa

0

4

1,579

11

100

1,694

738

1.43

1.17

Mohave

0

0

58

0

14

72

1,112

0.95

0.78

Navajo

0

0

17

0

3

20

2,371

0.44

0.37

Pima

0

2

368

1

12

383

958

1.10

0.91

Pinal

0

0

198

0

10

208

390

2.70

2.22

Santa Cruz

0

0

9

0

0

9

1,448

0.73

0.60

Yavapai

0

0

39

0

4

43

1,901

0.55

0.46

Yuma

0

0

16

0

3

19

3,902

0.27

0.22

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastest-growing private companies, 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 MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal. For more information, visit www.realtytrac.com.

 

###

 

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

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