PHOENIX — Fewer homes in Arizona and across the nation are entering foreclosure.
Foreclosure starts are down 33 percent in 2013 from 2012 nationally, according to Realty Trac. Arizona is showing a drop of almost 60 percent. Realtor Randy Courtney said the icing on the cake is that home prices continue to rise.
“Resale homes are the majority of sales and new home builders are gaining momentum. We’re seeing a lot of positives,” he said.
Home prices were up by about 20 percent last year in the Valley. Courtney expected an 8-9 percent boost this year.