Phoenix Real Estate-Foreclosure Trend
May 17th, 2008 categories: Phoenix Foreclosures, Real Estate News
RealtyTrac is reporting that there was a 4% increase in foreclosures in the month of April from the previous month-
The article goes on to state:
“Arizona foreclosure activity in April increased 26 percent from the previous month and 181 percent from April 2007, helping to bump the state’s foreclosure rate up to third highest among the states. Foreclosure filings were reported on 11,620 Arizona properties in March, one in every 224 total households.”
So I thought I would take a look at the trend in bank owned homes (REO) new listings in the Phoenix market for the last 9 months. There are currently 4851 REO listings for single family homes.
The data is extracted from the Arizona MLS system (ARMLS) and is deemed reliable but not guarenteed.
