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 / Modified feb 12, 2014 4:51 p.m.

AZ Foreclosure Filings Drop to Pre-Recession Levels

January's report ranks AZ 17th in the country; there were 2,363 last month, according to RealtyTrac.
by Zachary Ziegler

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The number of houses going through foreclosure in Arizona continued to drop in January.

There were 2,363 foreclosure filings in the state last month, according to RealtyTrac, a company that keeps data on foreclosures in the U.S.

That number marks a milestone for the state.

“This is the first month that we’re back to foreclosure levels that match and in some of the cases in cities in Arizona, are even lower than we were seeing before the Great Recession and the housing crisis got started back in 2005 and 2006," said Darren Blomquist of RealtyTrac.

It is possible for a home to have multiple foreclosure filings on it, so the number of filings can be higher than the number of houses going through foreclosure.

One in every 1,202 homes in Arizona is going through the process of foreclosure.

That number is down about 23.95 percent from December, and 57.94 percent from January of 2013.

From 2009-11, Arizona had the second highest rate of foreclosures in the country. It now sits at number 17.

Blomquist said the number of foreclosures will start to stabilize in the next few months, but there are other aspects of the housing market that have yet to return to their pre-recession levels.

MORE: Arizona, Economy, News, Tucson, U.S.
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