Foreclosure inventory in Phoenix declining

Foreclosure inventory in the Phoenix metro area is down compared with a year ago, according to data released Wednesday by CoreLogic. In the Valley the foreclosure inventory in December 2011 was down 2.1 percent as compared with a year earlier. Almost 3 percent of all homes with a mortgage were in some stage of foreclosure in December. That number jumps to 7.6 percent for mortgages that are 90 days or more delinquent. The statewide stats are very similar. Foreclosure inventory is down 1.6 percent statewide. About 2.7 percent of all homes with a mortgage were in some stage of foreclosure in December. That number jumps to 7.1 percent for mortgages that are 90 days or more delinquent. Arizona now has dropped out the top states for foreclosure inventory. The states with the highest amount of foreclosure inventory are Florida (11.9 percent), New Jersey (6.4 percent), Illinois (5.4 percent), Nevada (5.3 percent) and New York (4.6 percent). The states with the lowest foreclosure inventory are Wyoming (0.7 percent), Alaska (0.8 percent), North Dakota (0.8 percent), Nebraska (1 percent) and Washington (1.3 percent). Nationwide, the percent of homeowners who were more than 90 days delinquent with their mortgage payment was 7.3 percent. That compares with 7.8 percent a year earlier.

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