Foreclosures are making headlines again, but Arizona’s story looks much different than the rest of the country. A new ATTOM report highlights a slight increase in “zombie foreclosures” nationwide, but Maricopa County remains well below historic crisis levels.
Key Takeaways
- Nationwide, zombie foreclosures (abandoned homes in foreclosure) rose to 3.38% of all U.S. foreclosures.
- Arizona recorded 787 foreclosure filings in July 2025 across 3.14 million housing units.
- Maricopa County saw 131 completed foreclosures in July 2025, up from 35 a year earlier, but still very low for a county of its size.
- During the Great Recession, Phoenix had 10,558 homes in pre-foreclosure in March 2009, today’s numbers are a fraction of that.
- Most recent Valley foreclosures involve investors from 2022 who lack equity, not owner-occupants.
- Arizona’s nonjudicial foreclosure process (90 days) keeps backlogs low compared to judicial foreclosure states.
- Strong home equity cushions most Arizona owners from foreclosure, giving them options to sell before losing homes at auction.
Why It Matters for Investors
- Rising foreclosures can create acquisition opportunities in markets like Pinal, Mohave, and Cochise counties, which are seeing more filings.
- For Maricopa investors, the numbers confirm no looming foreclosure crisis, but monitoring investor-owned properties with thin equity is key.
- Strong equity trends mean distressed sales will remain rare, keeping overall inventory tight.