Arizona Foreclosures trending down

Foreclosure activity eased in April - azcentral.com - Pre-foreclosures fell to 4,200 last month, their lowest level since December 2007, according to real-estate-research firm Information Market. In Arizona, pre-foreclosures are notice-of-trustee-sale filings that signal that a lender has started the legal process of taking a home back from a borrower. In April, foreclosures dropped to 4,500, which is 500 fewer than in March. Foreclosures are legally known as trustee sales. And the number of active residential notices, or pending foreclosures in metro Phoenix, dropped to 30,790. A year ago, this key market indicator was 30 percent higher.

We will now see prices going up!