Foreclosure era in Phoenix ends with whimper

Foreclosure

By David Meek | The Arizona Report

Adieu, investor frenzy. At least for now.

Today there are only 78 bank foreclosures and HUD homes in the entire Phoenix metro in active status. Add the 39 short sales and 20 pre-foreclosures and the whole lot adds up to less than 150 distressed listings across all residential property types. So tiny.

That is great news for Valley home prices and the stability of the local housing market. Yet there is no fanfare to mark the occasion nor parade scheduled.

Perhaps it’s appropriate then to close the book on the 12-year foreclosure era that characterized the housing crisis. It began with a Lehman-style bang in 2008, but has tapered out today to a whimper.

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