Just 3,087 Maricopa County mortgagers received notices that their mortgage was in arrears in April, 2012; In April, 2011, the number was much higher - 4,170.
(prHWY.com) June 11, 2012 - Mount Pleasant, PA -- Mount Pleasant, PA, USA, June 01, 2012 -- Default Research, Inc. (
www.defaultresearch.com), today announced that mortgage pre-foreclosure activity in Maricopa County, Arizona fell by 26% in April 2012, compared to April 2011, further bolstering the idea that the Phoenix real estate market is showing solid signs of improvement.
Just 3,087 Maricopa County mortgagers received notices that their mortgage was in arrears in April, 2012; In April, 2011, the number was much higher - 4,170.
Burt Cooper, Vice-President of Default Research, Inc., a leading provider of county-specific pre foreclosure activity data for 9 U.S. states, said that these improvements clearly show a healthier Phoenix real estate market.
"When you combine a 26% drop in pre-foreclosure activity on a year-over-year basis with steadily improving unemployment rates, you have a recipe for a much healthier Phoenix real estate market," Cooper said.
"More Phoenicians have jobs today, which means they can afford to pay their mortgages. Homes in the under-200-thousand dollar range are selling just as fast as real estate brokers can list them - Phoenix is back from the brink... or very soon will be."
Cooper warns that the Maricopa County area may see a few bumps in the road - but for now at least - all signs point to a sustained real estate market recovery.
"We won't know for a few more months whether the improvements we're seeing in Phoenix will last. A lot depends on whether job growth can be sustained. If we see a rash of large employer layoffs or a general cooling of the economy in the next few months, all bets are off," Cooper said.
"For now, though, I'm more optimistic about Phoenix than I have been in quite some time. And I know Phoenix homeowners are more than ready to slay the economic dragons that have contributed to the financial problems that contribute to missed mortgage payments and pre-foreclosure activity."
Requests for interviews or additional information are welcome. Default Research compiles pre foreclosure statistics in multiple states and counties. Additional information can be found at market.defaultresearch.com.
Contact :
Burt Cooper
Default Research Inc.
609 N Church St, Ste 5
Mount Pleasant, PA, 15666
8882118396
info@defaultresearch.com
http://www.defaultresearch.com
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