Arizona

Arizona Bank Foreclosures:

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As of July 2008, Arizona ranks second highest in the number of foreclosure filings nationally in the United States. Per 1,000 households, Arizona foreclosures ranked at 54.9, while Nevada foreclosures was No.1 at 59.1. Arizona foreclosures increased by 36 percent from the previous quarter.

Over 1.25 million Americans have been faced with the risk of losing their home to foreclosure in 2008.

Home sales are on the rise, but mostly due to foreclosure activity especially within Arizona foreclosures which represent approximately 40 percent of the recent sale purchases. According to RealtyTrac 1 in every 171 US households received a foreclosure filing during the 2nd quarter 2008.