A spike in Arizona foreclosures in 2007

Arizona has joined a Top 10 list that you likely won’t hear anyone bragging about. As the number of home foreclosures soared across the country in 2007, the state ended the year in eighth place, according to research by RealtyTrac, Inc., an online marketplace for foreclosure properties. In totals, there were 69,970 foreclosure filings in Arizona—a more than 150 percent increase from 2006. The total represented more than 1.5 percent of all homes in the state.

In the month of December alone, there were 7,599 foreclosures in the state—a more than 200 percent increase from December 2006. Across the United States, 405,000 home foreclosure filings were reported in 2007. Total foreclosure filings grew 75 percent from 2006 to 2007 in the United States. More than 1 percent of U.S. households were in some stage of foreclosure during 2007, up from 0.58 percent in 2006. For more, www.realtytrac.com.



This article appears in the March 2008 issue of Latino Perspectives Magazine.

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