Arizona Business Daily
Among Arizona’s most populous urban centers, the Tucson Metropolitan Statistical Area posted the highest percentage of mortgages that owe at least 25 percent more on their loans than their property is worth, according to a home equity analysis by ATTOM Data Solutions.
In the Tucson MSA, 9.3 percent of mortgages — representing 21,041 properties — were ranked “seriously underwater” in the first quarter of this year, compared to 7.2 percent in the Phoenix-Mesa-Scottsdale MSA.
The analysis, which ranked only urban areas with 500,000 or more people, is based on a home’s estimated market value.
