Phoenix sees large drop in foreclosure filings

Phoenix saw a larger annual drop in foreclosure filings in April than any other major metropolitan area in the nation, according to a CoreLogic report released Wednesday. About 2.8 percent of all homes with a mortgage in the Phoenix area had a foreclosure filings in April, the report said. That’s down 1.1 percentage points from the same time last year. It was the biggest year-over-year decline in April foreclosure listings among the 25 major markets, based on population, that CoreLogic examined. Seven of those metropolitan areas studied by CoreLogic had higher foreclosure-inventory rates than the Valley last month, including the Orlando, New York and Chicago areas. Florida’s Tampa, St. Petersburg and Clearwater markets ranked No. 1 with foreclosures making up 12.4 percent of all mortgaged homes last month, the report said.

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