Is Phoenix foreclosure rate bouncing back?

Apr 1, 2014, 5:00 AM | Updated: 5:00 am

PHOENIX — The Phoenix-area foreclosure rate has been plummeting, especially when compared to national averages.

According to Phoenix Business Journal, “Foreclosure inventory throughout metro Phoenix plunged by roughly 56 percent year-over-year in January.”

The foreclosure rate was also at .59 percent in January, far below the national average of 1.97 percent.

Arizona State University has released housing reports, saying the number of pending foreclosures “has fallen below a normal level and is continuing to decline slowly.”

The “normal” level of foreclosures in Maricopa County is about 1,425 a month. In January, the county had 1,013.

Research also showed that Phoenix homeowners have gotten better at making their mortgage payments on time.

We want to hear from you.

Have a story idea or tip? Pass it along to the KTAR News team here.

Arizona News

(Pexels Photo)...
KTAR.com

Police: Unidentified body found floating in Mesa golf course lake

A body was found in a lake on a Mesa golf course Tuesday morning, authorities said.
8 hours ago
(AP Photo/Cedar Attanasio)...
Griselda Zetino

Empty seats: Reversing chronic absenteeism rates in Arizona schools will take time

The rate of students missing too many school days spiked following the pandemic in Arizona, and now schools are on the hunt for solutions.
8 hours ago
(Lev Libeskind Rendering)...
Danny Shapiro

Mario Kart-themed apartment building coming to downtown Phoenix next year

Rainbow Road is among the most iconic Mario Kart maps and a developer plans to bring it to life in the form of an apartment building in downtown Phoenix.
8 hours ago
State Farm Stadium with Super Bowl XLVII logo on exterior in Glendale, Arizona....
Kevin Stone

Want to bet on Super Bowl? It’s legal in Arizona, but watch out for scams

It's perfectly legal bet on the Super Bowl and other sporting events in Arizona, but bad actors could be lurking with the big game in town.
8 hours ago
(Facebook Photo/Phoenix Union High School District)...
KTAR.com

Phoenix Union High School District revisiting campus security, hosting talks with public

A Valley school district that eliminated campus resource officers is again asking for community input on the role of police at school.
8 hours ago
(Photo by Michael Matthey/picture alliance via Getty Images)...
KTAR.com

Valley Boys & Girls Club uses esports to help kids make healthy choices

KTAR’s Community Spotlight focuses on the Boys & Girls Club of the Valley and the work to incorporate esports into children's lives.
1 day ago

Sponsored Articles

...
Quantum Fiber

How high-speed fiber internet edges out cable for everyday use

In a world where technology drives so much of our daily lives, a lack of high-speed internet can be a major issue.
...
Quantum Fiber

How high-speed fiber internet can improve everyday life

Quantum Fiber supplies unlimited data with speeds up to 940 mbps, enough to share 4K videos with coworkers 20 times faster than a cable.
...
Children’s Cancer Network

Children’s Cancer Network celebrates cancer-fighting superheroes, raises funds during September’s Childhood Cancer Awareness Month

Jace Hyduchak was like most other kids in his kindergarten class: He loved to play basketball, dress up like his favorite superheroes and jump as high as his pint-sized body would take him on his backyard trampoline.
Is Phoenix foreclosure rate bouncing back?