Foreclosure filings drop in the Valley -
Metro Phoenix's foreclosure activity reached an interesting equilibrium in March. The number of pre-foreclosures fell to nearly the level of actual foreclosures. Pre-foreclosures usually outpace actual foreclosures or trustee sales by a few thousand in the region. Last month, the number of new notice-of-trustee sales filed dropped to 5,692. At the same time, the number of trustee sales, or foreclosures completed, reached 5,003. New Phoenix foreclosure filings have been falling during the past few months, a good sign that fewer people are losing their homes or opting to walk away.
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Mark Loprino
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