PENNSYLVANIA FORECLOSURE ACTIVITY DOWN 13 PERCENT IN DECEMBER

Yearly Foreclosure Total Down 40 Percent From December 2006

 

IRVINE, Calif. – Jan. 25, 2008 – Pennsylvania reported 2,239 foreclosure filings in December, a 13 percent decrease from the previous month, and a 40 percent decrease from December 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1 million properties from nearly 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.

 

Pennsylvania foreclosures have declined both in December and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state’s unemployment rate has dropped significantly during the past year and is now below the national average. This, in addition to a relatively strong home price appreciation rate, is likely contributing to the overall decline.”

 

Pennsylvania ranked 20th in the country in total foreclosures reported for the month. The state’s foreclosure rate of one foreclosure filing for every 2,422 households ranked it 35th among the 50 states.

 

Philadelphia County leads state in foreclosure filings

Philadelphia County led the state in total foreclosure activity for December, reporting 854 foreclosure filings. Allegheny County tallied the second highest foreclosure total, reporting 461 filings for the month, followed by Montgomery County, which registered 279 foreclosure filings.

 

Lawrence County posts highest foreclosure rate

Lawrence County reported the highest county foreclosure rate in Pennsylvania for December, one foreclosure filing for every 748 households — 3.2 times the state average. Philadelphia County posted the second highest foreclosure rate, one foreclosure filing for every 773 households — 3.1 times the state average. Montgomery County posted the third highest foreclosure rate, one filing for every 1,107 households — 2.2 times the state average.

 

State contributes 1 percent to nation’s monthly total

Total foreclosure filings in Pennsylvania accounted for 1 percent of the 215,749 foreclosure filings reported nationwide in December. The national total represents a 7 percent increase from the previous month, and is 97 percent above the total reported for December 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 577 U.S. households for the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of foreclosure filings — both nationwide and by state — over the preceding month. RealtyTrac’s report includes properties in all three phases of foreclosure: Defaults — Notice of Default (NOD) and Lis Pendens (LIS); Auctions — Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank).

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

 

Pennsylvania Foreclosure Market by County – December 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

Households per Filing

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

46,182

54,280

18,488

47,945

48,854

215,749

577

n/a

n/a

Pennsylvania

0

14

1,420

66

739

2,239

2,422

0.24

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

0

0

0

0

0

n/a

0.00

0.00

Allegheny

0

4

367

10

80

461

1,281

0.45

1.89

Armstrong

0

0

0

0

0

0

n/a

0.00

0.00

Beaver

0

0

2

1

37

40

1,980

0.29

1.22

Bedford

0

0

1

0

0

1

24,212

0.02

0.10

Berks

0

0

80

2

0

82

1,932

0.30

1.25

Blair

0

0

0

0

0

0

n/a

0.00

0.00

Bradford

0

0

0

1

0

1

29,274

0.02

0.08

Bucks

0

0

2

2

0

4

59,387

0.01

0.04

Butler

0

0

49

1

1

51

1,469

0.39

1.65

Cambria

0

0

0

0

0

0

n/a

0.00

0.00

Cameron

0

0

0

0

0

0

n/a

0.00

0.00

Carbon

0

0

1

0

0

1

31,933

0.02

0.08

Centre

0

0

0

0

13

13

4,381

0.13

0.55

Chester

0

0

3

3

14

20

8,939

0.06

0.27

Clarion

0

0

0

0

0

0

n/a

0.00

0.00

Clearfield

0

0

0

0

0

0

n/a

0.00

0.00

Clinton

0

0

0

0

1

1

18,754

0.03

0.13

Columbia

0

1

0

0

0

1

28,701

0.02

0.08

Crawford

0

0

0

0

0

0

n/a

0.00

0.00

Cumberland

0

0

1

1

1

3

30,776

0.02

0.08

Dauphin

00

0

5

1

19

25

4,598

0.13

0.53

Delaware

0

0

3

1

28

32

6,879

0.08

0.35

Elk

0

0

0

0

0

0

n/a

0.00

0.00

Erie

0

3

1

0

64

68

1,719

0.34

1.41

Fayette

0

0

1

0

0

1

67,248

0.01

0.04

Forest

0

0

0

0

0

0

n/a

0.00

0.00

Franklin

0

0

0

0

0

0

n/a

0.00

0.00

Fulton

0

0

0

0

0

0

n/a

0.00

0.00

Greene

0

0

0

0

0

0

n/a

0.00

0.00

Huntingdon

0

0

0

0

0

0

n/a

0.00

0.00

Indiana

0

0

0

0

2

2

19,126

0.03

0.13

Jefferson

0

0

0

0

0

0

n/a

0.00

0.00

Juniata

0

0

0

0

0

0

n/a

0.00

0.00

Lackawanna

0

0

1

4

0

5

19,343

0.03

0.13

Lancaster

0

0

0

2

18

20

9,537

0.06

0.25

Lawrence

0

0

1

2

51

54

748

0.77

3.24

Lebanon

0

0

0

0

1

1

52,299

0.01

0.05

Lehigh

0

0

1

2

0

3

45,063

0.01

0.05

Luzerne

0

0

0

2

57

59

2,490

0.23

0.97

Lycoming

0

1

1

0

28

30

1,786

0.32

1.36

McKean

0

0

0

0

0

0

n/a

0.00

0.00

Mercer

0

0

2

1

1

4

12,826

0.04

0.19

Mifflin

0

0

0

1

0

1

21,192

0.03

0.11

Monroe

0

1

0

0

8

9

8,406

0.07

0.29

Montgomery

0

0

260

4

15

279

1,107

0.52

2.19

Montour

0

0

0

0

0

0

n/a

0.00

0.00

Northampton

0

0

1

4

24

29

3,935

0.15

0.62

Northumberland

0

0

1

0

0

1

43,718

0.01

0.06

Perry

0

0

0

0

0

0

n/a

0.00

0.00

Philadelphia

0

3

628

15

208

854

773

0.75

3.13

Pike

0

0

0

0

0

0

n/a

0.00

0.00

Potter

0

0

0

0

0

0

n/a

0.00

0.00

Schuylkill

0

0

0

0

1

1

69,176

0.01

0.04

Snyder

0

0

0

0

0

0

n/a

0.00

0.00

Somerset

0

0

1

0

0

1

38,003

0.02

0.06

Sullivan

0

0

0

0

0

0

n/a

0.00

0.00

Susquehanna

0

0

0

0

1

1

22,434

0.03

0.11

Tioga

0

0

0

0

0

0

n/a

0.00

0.00

Union

0

0

0

0

0

0

n/a

0.00

0.00

Venango

0

0

1

0

0

1

27,286

0.02

0.09

Warren

0

1

0

1

0

2

11,686

0.05

0.21

Washington

0

0

2

1

9

12

7,586

0.08

0.32

Wayne

0

0

0

0

0

0

n/a

0.00

0.00

Westmoreland

0

0

1

2

57

60

2,750

0.21

0.88

Wyoming

0

0

0

0

0

0

n/a

0.00

0.00

York

0

0

3

2

0

5

33,775

0.02

0.07

 

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastest growing private companies, RealtyTrac Inc. (www.realtytrac.com), is the leading online marketplace for foreclosure properties, providing all the resources that home seekers, investors and real estate agents need to locate, evaluate and buy properties below market value.

 

Founded in 1996, RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure, foreclosure, For Sale By Owner, resale and new homes, with more than 1.3 million properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts nearly 3 million unique visitors monthly and has been chosen to supply foreclosure data to MSN Real Estate, Yahoo! Real Estate and the Wall Street Journal’s Real Estate Journal. For more information, visit (www.realtytrac.com).

 

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

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