The number of metro Phoenix houses taken back by lenders through foreclosure fell to 405 in September, the lowest level since early 2007, reports Catherine Reagor, The Arizona Republic .
Foreclosures have been falling pretty steadily since March 2011, when almost 5,000 houses were taken back by lenders.
In September 2013, there were 684 residential foreclosures in the Valley, according to The Information Market, a division of the Arizona Regional Multiple Listing Service.
Currently, lenders own 2,281 metro Phoenix houses taken back by foreclosure.
