Expert Jaime posted on March 25, 2009 15:55
Foreclosed (bank owned) homes are flooding the market. In Tempe about 38% of the home sales in January 2009 were foreclosure related. However, foreclosures in Tempe pale in comparison to other areas:
Tempe: 30
Mesa: 310
Gilbert: 165
Chandler: 140
Glendale: 255
Phoenix: 1,235
You can read more about it in this article about foreclosures. Interested in buying a bank owned home? You can learn more here.