Foreclosure trend shifts closer into Phoenix metro areaPosted: Updated:
PHOENIX -- The highest rates of foreclosures in metropolitan Phoenix have moved from the farthest flung suburbs to neighborhoods closer into the area, particularly some in south, west and central Phoenix.
That's according to an Arizona newspaper's analysis of real-estate data from the Information Market.
When foreclosures started to climb last summer, the highest rates of home defaults were found in farthest flung areas where buyers had gone to get the most house for their buck.
Although some of the metro area's fringes such as Surprise, Anthem and Buckeye continue to have high foreclosure rates, the problem has moved inward.
Foreclosures across metro Phoenix number 16,647 for the first half of the year compared with 9,966 during all of 2007 and 1,070 in 2006.