The Arizona mortgage delinquency rate fell to 6.35 percent in the first quarter of 2012, down from 8.23 percent during same same period last(2011) year. This is according to the Mortgage Bankers Association. The actual foreclosure rate was 3.57% compared to 4.81 percent a year prior.
What does this mean? Fewer homes going to foreclosure lessens the inventory of homes for sale at a discount. This in addition to falling inventories of traditional and short sales coupled with rising demand means upward pricing pressures are back.
Sunday, June 24, 2012
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