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.

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