ASU report shows Phoenix foreclosures up againPosted: Updated:
PHOENIX (AP) — A monthly report shows the number of foreclosed homes in the Phoenix area edged up again last month, hitting the highest percentage of total sales since January.
The Arizona State University Realty Studies report shows foreclosures made up 43 percent of the existing homes sold in July. In June that number was 36 percent and in May, it was 33 percent.
ASU real estate professor Jay Butler says the actual number of single-family home foreclosures was about 3,900, close to June's numbers. In July 2009, 4,200 homes were lost to foreclosures.
Besides homes lost to foreclosure, 5,100 existing homes sold in Maricopa County in July, down from 6,900 in June and 7,300 in July 2009. That number includes homes previously repossessed by banks and then resold.