In August Foreclosures increased to 44% of the 7505 recorded transactions according to a report released by Realty Studies, a division of the Morrison School of Management and Agribusiness at ASU.
"Foreclosure activity differs throughout the Valley." said Jay Butler, director of Realty Studies at ASU in a written statement.
The median sales price of all homes in valley was $193, 550 compared to $161,875 for forclosures. With Scottsdale reporting a median of $560,000 and Maryvale at just under $130,000.
There are hopes that the mortgage takeovers by the federal government will bring confidence and stability back to the housing market.
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