Foreclosures up 21%. Should we worry? | Phoenix Real Estate Market Update

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Your weekly Phoenix housing market update: foreclosures are up 21%, and here's what that number actually means for buyers and sellers in the Valley.

Foreclosures are up 21% year over year, and the headlines have run with it. In this week's Phoenix housing market update I walk through the new ATTOM foreclosure report, the counterpoint from housing analyst Logan Mohtashami, and what the latest Cromford Report is telling us about where Phoenix prices are headed over the next six to eight weeks.

Here's what we cover:
▪ The 21% year-over-year jump in foreclosure filings - and the 3% monthly decline nobody mentioned
▪ Where Arizona actually ranks (#15) and how Maricopa County compares to 2020 and 2013
▪ Why today doesn't resemble 2005-2008: 45.1% average loan-to-value, mostly fixed-rate mortgages, very little negative equity
▪ 1.56M active listings nationally vs. 4M in 2007 - and why new listings would spike first if this were a credit event
▪ Mortgage debt service at 5.88% of disposable income vs. nearly 9% in 2006
▪ Why the Cromford Report expects prices to get weaker over the next 6-8 weeks
▪ Pending and under-contract counts down 10-12% month over month - what that means if you're selling this summer
▪ Listing success rate down 14% month over month and what sellers should do about it
▪ The city-by-city CMI breakdown: which Valley cities are seller's, balanced, and buyer's markets right now

If you're buying, a quiet market is where the opportunity usually is. If you're selling, pricing and presentation matter more right now than they did six months ago. Either way, my goal is to hand you the numbers so you can make the decision that's right for your situation.

Data sources: ATTOM Data Solutions June 2026 U.S. Foreclosure Market Report, Logan Mohtashami / HousingWire, and The Cromford Report.