Register | Forgot Your Password? | Close

PHOENIX -- The Phoenix-area foreclosure rate has been plummeting, especially when compared to national averages.

According to Phoenix Business Journal, "Foreclosure inventory throughout metro Phoenix plunged by roughly 56 percent year-over-year in January."

The foreclosure rate was also at .59 percent in January, far below the national average of 1.97 percent.

Arizona State University has released housing reports, saying the number of pending foreclosures "has fallen below a normal level and is continuing to decline slowly."

The "normal" level of foreclosures in Maricopa County is about 1,425 a month. In January, the county had 1,013.

Research also showed that Phoenix homeowners have gotten better at making their mortgage payments on time.

KTAR.com,

share this story:
Attention KTAR.com Comment Users: We have recently changed our comments boards.
We would like you to be part of the conversation and The Voice of Arizona by logging in with your Facebook, Twitter, Google+ or Disqus account. Existing KTAR (Arizona Sports) account members will need to create a Disqus account or use one of the aforementioned social media logins. Thank you.
comments powered by Disqus

World Class Arizona

  • Dignity Health

    World Class People. World Class Company. Excellent care, delivered with compassion, for all in need.

Voice For A Better Arizona

  • Family in Focus

    KTAR spends the week taking a look at the issues a modern Arizona family faces.