PHOENIX — A new report finds Arizona continues to creep out of the housing slump.
RealtyTrac’s year-end report showed the state’s foreclosure rate last year dropped 33 percent from 2011. The numbers fall in line with the rest of the country, said company vice president Daren Blomquist.
“That number of negative equity homeowners is down 1.6 million from a year ago, so a year ago it was at 12.5 million,” Blomquist said.
“We’re making progress on that front too but it’s not going to be overnight that we get out of the problems created by the house bubble.”
Arizona ended 2012 with the third-highest foreclosure rate in the nation after three consecutive years with the second-highest rate. A total of 76,487 properties had foreclosure filings during the year, 2.69 percent of all housing units in the state (one in 37).
Nationwide, the country is split when it comes to foreclosures — 25 states saw an increase while the other half had a drop in the number of filings.
“There are still 10.9 million homeowners nationwide who owe more on their property than what it’s worth,” Blomquist said.
“That’s just going to take time as home prices gradually increase, for those homeowners to get out from that negative equity position.”
U.S. foreclosure filings fell last month to the lowest level in more than five years.
- 7 common ways to get sued by your employees
- Why it might be time to upgrade your toilet
- Arizona teachers are building a better future by using technology in the classroom
- How to make summer reading fun for the whole family
- How to find relief for chronic joint pain
- Can the NBA Lottery save the Suns?
- Skip Urgent Care: 5 ailments you can treat with telemedicine
- Skin Cancer in Arizona: Stats, facts and new immunotherapy drugs making strides
- Distracted walking injuries end up not so funny
- Scary situations: 5 quick tips before you let a contractor in your home
- Four ways telemedicine is changing the health care industry
- 5 mistakes homeowners make in the spring
- Three rivers run through it: Exploring Arizona's waterways
- Smart home basics: things you need to know to get started
- 5 Surprising things causing back pain
- Arizona agriculture is a $17.1B industry
- Timeline: Arizona's roots in brewing history
- 5 reasons to love the D-backs this season
- Tips for taking your home entertainment experience to the backyard
- Tech-related injuries your parents never experienced
- Workers comp: Signs your co-worker could be a fraud
- Who's the real founder of America's pastime?
- Epidemic rising? What you need to know about Alzheimer's in Arizona
- 5 unforgettable Wooden Award winners
- Family and hard work are keys to success of modern dairy farmers
- Genetic testing could hold answers for colon cancer survival
- Cold beers and baseball: A beer lover's guide to Spring Training
- Telecommuting: 5 tips to make it work for employers and employees
- See how top CFOs feel about economic growth in the Valley
- Migraine myths that keep patients from effective treatments