Foreclosures Decrease in Tucson, Statewide

As Arizona home values continue to appreciate, fewer residents feel the need to file for foreclosure. RealtyTrac announced recently that foreclosures have fallen to a seven-year low in Arizona, with only 2,500 new foreclosure listings in September. The average foreclosure took 240 days to complete—the 9th-fastest rate of any state in the U.S.

Tucson’s recovery has been particularly robust. The market had only 400 filings take place in September—a dramatic decrease from the 1,400 that occurred during that month last year. Phoenix had around 1,600 new foreclosures in September.

Read more at Tucson Business Insider