By Catherine Reagor |The Arizona Republic
For the past five years, foreclosures have been one of the most important indicators to track metro Phoenix’s housing market. Not anymore.
Both foreclosures and foreclosure starts have fallen back to levels not seen in the region since 2007. In January, lenders took back 1,339 houses, according to the Information Market. During 2009-11, monthly foreclosures regularly topped 4,000 and often climbed above 5,000.
Foreclosure starts, or notice of trustee sales as they are known in Arizona, totaled 2,245 last month. In March 2009, lenders moved to begin foreclosure proceedings on a record 10,105 homeowners.
If you’d like to discuss real estate matters, contact RLG founder Jordan Rose, jrose@roselawgroup.com
