Foreclosures remain low in metro Phoenix

Foreclosures

By CForeclosuresatherine Reagor, The Republic | azcentral.com

Last month, lenders took back 337 Valley houses, according to The Information Market of the Arizona Regional Multiple Listing Service. That compares to 346 foreclosures in December and 591 in January 2014.

In January 2011, 4,276 Valley houses were foreclosed on. By January 2012, home prices and sales had begun to climb again, and foreclosures were declining

Foreclosures have plummeted since the crash but continue to be an important indicator to track the Valley’s housing market. A big jump in foreclosures could lead to a dip in home prices, if lenders choose again to resell the houses at bargain prices.

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