Phoenix Ranks Fourth in 2010 Foreclosures
Phoenix Ranks Fourth in 2010 Foreclosures
Phoenix, Arizona ranked fourth in RealtyTrac's year-end Metropolitan Foreclosure Market Report, released Monday. The report ranks the 206 metro areas in the US, defined as having populations of 200,000 or more, by the percentage of total housing units hit with foreclosure filings.
In Phoenix, 124,720 properties were hit with foreclosure-related filings last year, or about one out of 14 homes. The ratio is down 6.8 percent from 2009 but up 28 percent from 2008. Across the US, there were 2.87 million foreclosures in 2010, up 1.7 percent from the previous year and 23 percent from 2008. 149 of the nation's 206 metro areas experienced an increase in foreclosure activity over the course of the year.
Las Vegas, Nevada once again claimed the top spot in RealtyTrac's foreclosure rankings, with one out of nine homes receiving a filing. The area saw 88,198 total filings in 2010, up 31 percent from 2008 but down 7 percent from 2009. Las Vegas was followed on the list by Cape Coral / Fort Meyers, Florida, Modesto, California, and Phoenix. Miami / Fort Lauderdale, Florida rounded out the top five. The Utica / Rome, New York area placed last on the list, with just 60 total foreclosures in the year representing a ratio of 1 in 2,268 homes.
Phoenix, Arizona ranked fourth in RealtyTrac's year-end Metropolitan Foreclosure Market Report, released Monday. The report ranks the 206 metro areas in the US, defined as having populations of 200,000 or more, by the percentage of total housing units hit with foreclosure filings.
In Phoenix, 124,720 properties were hit with foreclosure-related filings last year, or about one out of 14 homes. The ratio is down 6.8 percent from 2009 but up 28 percent from 2008. Across the US, there were 2.87 million foreclosures in 2010, up 1.7 percent from the previous year and 23 percent from 2008. 149 of the nation's 206 metro areas experienced an increase in foreclosure activity over the course of the year.
Las Vegas, Nevada once again claimed the top spot in RealtyTrac's foreclosure rankings, with one out of nine homes receiving a filing. The area saw 88,198 total filings in 2010, up 31 percent from 2008 but down 7 percent from 2009. Las Vegas was followed on the list by Cape Coral / Fort Meyers, Florida, Modesto, California, and Phoenix. Miami / Fort Lauderdale, Florida rounded out the top five. The Utica / Rome, New York area placed last on the list, with just 60 total foreclosures in the year representing a ratio of 1 in 2,268 homes.
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