ARIZONA FORECLOSURES INCREASE 7 PERCENT IN JUNE

State Activity Up 2 Percent From a Year Ago

 

IRVINE, Calif. – July 31, 2006 – Arizona reported 2,131 properties entering some stage of the foreclosure process in June, up 7 percent from the 1,986 properties reported in May, and a 2 percent increase from the 2,096 properties reported for the same month last year, according to the RealtyTrac™ June 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.

 

Arizona remains one of the nation’s 15 highest states in terms of total foreclosures, although the activity level rose only slightly in June and year-over-year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The sustainability of these high numbers could be partially attributable to the significant decline in single-family home sales seen in the state during the first quarter of this year.”

 

Arizona had the 14th highest foreclosure total in the nation for June. Reporting one new foreclosure filing for every 1,027 households — 1.3 times the national average — the state’s foreclosure rate ranked 12th among the 50 states.

 

Maricopa County Tops in Foreclosure Activity

Reporting 1279 properties in some stage of the foreclosure process, Maricopa County led the state in activity level in June. Other notable foreclosure totals were found in Pima County reporting 484 properties and Pinal County reporting 108 properties in the foreclosure pipeline.

 

Santa Cruz County Posts Highest Foreclosure Rate

Santa Cruz County had the highest foreclosure rate in the state for June, reporting one new foreclosure filing for every 435 households – 2.4 times the state average and 3 times the national average. Reporting one new foreclosure for every 751 households – 1.4 times the state average and 1.7 times the national average – Pinal County reported the second highest foreclosure rate in the state. Pima County was a close third reporting one new foreclosure filing for every 758 households — also 1.4 times the state average and 1.7 times the national average.

 

Arizona Had a Share in Monthly National Total

Arizona contributed 2.4 percent of the 88,194 properties entering some stage of foreclosure nationwide in June. The national total represents a 5 percent decline from the May total of 92,746 foreclosures. The national foreclosure rate declined to one foreclosure filing for every 1,311 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 – June 2006

 

County Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

U.S.

21,866

38,382

2,966

9,598

15,382

88,194

1,311

Arizona

163

1,533

318

30

87

2,131

1,027

1.28

 

 

 

 

 

 

 

 

 

 

Apache

0

0

0

0

0

0

0.00

0.00

Cochise

0

8

14

0

1

23

2,223

0.59

0.46

Coconino

2

20

0

0

0

22

2,429

0.54

0.42

Gila

1

17

0

0

0

18

1,566

0.84

0.66

Graham

0

15

0

0

0

15

762

1.72

1.35

Greenlee

0

1

2

0

0

3

1,248

1.05

0.82

La Paz

0

0

1

0

0

1

15,133

0.09

0.07

Maricopa

143

929

160

17

30

1,279

978

1.34

1.05

Mohave

3

45

7

1

2

58

1,380

0.95

0.74

Navajo

0

42

0

0

1

43

1,103

1.19

0.93

Pima

7

345

93

11

28

484

758

1.73

1.36

Pinal

6

74

21

0

7

108

751

1.74

1.37

Santa Cruz

1

2

11

1

15

30

435

3.02

2.36

Yavapai

0

19

3

0

1

23

3,553

0.37

0.29

Yuma

0

16

6

0

2

24

3,089

0.42

0.33

 

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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