Arizona foreclosures fall by 15%

Home foreclosure activity in Arizona fell nearly 15 percent from March to April, but the state’s foreclosure rate moved from the nation’s third-highest to second-highest, according to new data from RealtyTrac Inc. One in every 169 Arizona housing units received a notice of default, scheduled auction or bank repossession in April — more than twice the national average. In all, 16,088 residences received notices. That’s down 15 percent from March, but just 1 percent from April 2009. Nationwide, Nevada posted the highest foreclosure rate for the 40th consecutive month, with one in every 69 housing units receiving a notice in April — more than five times the national average.

Click here to view this article from its source.