By Mike Bodeen · 3 November 2025
Yes, But it Depends on Your Definition of Rising
“Lies, damned lies, and statistics” is quoted in Mark Twain’s biography, which he attributes the phrase to Benjamin Disraeli. Whoever, it always draws a chuckle, because most folks know it rings of truth.
You may have already read, and if not, you will in the near future read or hear that the Phoenix Metro residential real estate market has soaring foreclosures – up by 100%!
It’s true. Statistically speaking.
It is however negligent and a gross misrepresentation attempting to lure readership and/or clickership. How so, Mike?
“County foreclosures rose to a record high of over 5300 – for just one month. The foreclosures then began to drop until March of 2020 where they totaled 66.”
One chart (see below) is all I should need to convince you. In March of 2010, actual Maricopa County foreclosures rose to a record high of over 5300 – for just one month. It was the most terrible time in real estate here in the Valley and in our Country. Foreclosures then began to drop until March of 2020 where they totaled 66.
The market then changed radically with the onset of Covid 19. The initial fear would be a reversal of the downward trend of foreclosures to a starting up all over again. The opposite occurred, however. The market began to experience a radical seller’s market, which included a “temporary” governmental pause in foreclosures. With home prices experiencing monumental price gains, homeowners gained significant equity in a short period of time. Foreclosures dropped further.
Also, millions of homeowners, whether buying or refinancing were rewarded with ultra-low mortgage rates as low as 2.5%. This too played a major role in increased security for homeowners – its effects we’re feeling still today with the hesitancy of owners putting their home on the market.
Between 2020 and 2024 we had less than 50 foreclosures per month. 2025 began an increase – to 80-100 per month – a 100% increase! Wow. A 100% increase! That sounds scary – until you dig down a little to uncover the “damned lies.”
Thanks Mark and Ben!