Valley Foreclosures Drop 62 Percent

The Scottsdale real estate market is on the rise and that means foreclosures are down – way down. This is especially true in Desert Mountain.

Compared with the entire nation, Scottsdale delinquency and foreclosure rates are now well below the national average. While the Valley’s foreclosure rate fell 62 percent from last year, the nation’s average drop was only at 25 percent, putting the entire Phoenix area well ahead of the curve.

Scottsdale foreclosure starts are down nearly 67 percent from 2012. Valley foreclosure numbers in May were roughly 1,600 and that’s down from its highest point of over 10,000 homes in 2009.

It’s a great sign for a housing market on the rebound.

Scottsdale’s delinquency rate also plummeted 43 percent to 3.35 percent from May of last year.

The delinquent loan rate in Scottsdale fell nearly 50 percent while the national average hovered around an 18 percent decline.

The Valley is making a big comeback in a the housing market. With foreclosures down and an already competitive market on the rise, now is the time to buy.

Please contact me to view any of the properties that you may be interested in.