It’s looking like Arizona’s mortgage delinquency rate will hit “normal” levels next year (2013).
The lower the mortgage delinquency rate, the lower the number of homes that will enter the foreclosure pipeline and, ultimately, the lower the number of homes that will end up as REOs at the other end of the foreclosure pipeline.
This means we’ll continue to see fewer foreclosures weighing down Arizona home prices next year and because of that (and other factors) we’ll continue to see rising Arizona home prices next year.
