"More real-estate developers fell behind on their loan payments in the Valley in the first quarter, a sign that the local real-estate market still has not hit bottom.
Metro Phoenix's construction loan delinquency rate of 13.5 percent was the second-highest of the largest 100 metropolitan areas in the country, according to Oakland, Calif.-based Foresight Analytics LLC.
The research firm's data includes both commercial and residential construction loan data that lenders report to the FDIC, which insures banks."
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Delinquency rate for construction loans surges
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