A new report from Realtor.com® is tracking the recent path of foreclosures, shedding light on what occurs when these homes become Real Estate Owned (REO). These properties are then listed by banks on multiple listing services and various online platforms.
Additionally, according to the research, the rate of foreclosures has increased in recent years after a period of suppression following the COVID-19 pandemic. Foreclosures are now about as common as they were in 2019.
However, current rates remain well below the levels seen during the Great Financial Crisis. The report identified markets with the most foreclosure listings as of June 2026, and Phoenix, AZ, is among the areas that has seen a significant uptick.
Foreclosure listings rise in the Phoenix area
In the Phoenix-Mesa-Chandler, AZ, metro area, the foreclosure share of listings was 1.90% as of June 2026. This figure places the region among those with a noticeable increase in such properties coming to market…