PENNSYLVANIA FORECLOSURE ACTIVITY DOWN 19 PERCENT IN NOVEMBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Foreclosure Activity Down 19 Percent From a Year Ago

 

IRVINE, Calif. – Dec. 19, 2007 – Pennsylvania reported 2,577 foreclosure filings in November a 19 percent decrease from the previous month, and a 19 percent decrease from November 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.

 

“Though manufacturing jobs in Pennsylvania dropped by 13,300 jobs over the past year, according to the U.S. Bureau of Labor Statistics, the state also reported a recent increase of 3,300 non-farming jobs,” said James J. Saccacio, chief executive officer of RealtyTrac. “This quarter’s increase in employment has likely helped the state bring down its foreclosure activity.”

 

Pennsylvania ranked 20th in the country in total foreclosures reported for November. The state’s foreclosure rate of one foreclosure filing for every 2,104 households ranked it 34th among the 50 states.

 

Allegheny County leads state in foreclosure activity

Allegheny County reported the highest foreclosure total in Pennsylvania for November, with 821 foreclosure filings for the month. Philadelphia County reported the second highest state total, with 676 foreclosure filings. Delaware County posted the third highest foreclosure total, with 230 foreclosure filings. Westmoreland County had the fourth highest foreclosure total, with 146 filings entering some part of the foreclosure pipeline.

 

Allegheny County posts highest foreclosure rate for November

Allegheny County tallied the highest foreclosure rate in Pennsylvania for November, one foreclosure filing for every 719 households — 2.9 times the state average. Delaware County registered the second highest foreclosure rate, with one foreclosure filing for every 957 households — 2.2 times the state average. Philadelphia County posted the third highest foreclosure rate, one foreclosure filing for every 976 households — 2.2 times the state average.

 

State makes a minor contribution to national total

Total foreclosure filings in Pennsylvania accounted for 1 percent of the 201,950 foreclosure filings reported nationwide in November. The national total represents a 10 percent decrease from the previous month, but is still 68 percent above the total reported for November 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 617 U.S. households for the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. 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 – November 2007

 

County

NOD

NTS

NFS

LIS

REO

Total Filings

Households per Filing

/National Average

/State Average

 

 

 

United States

35,096

51,696

20,269

48,451

46,438

201,950

617

n/a

n/a

Pennsylvania

0

12

1,853

84

628

2,577

2,104

0.29

n/a

 

 

 

 

 

 

 

 

 

Adams

0

0

0

0

1

1

38,693

0.02

0.05

Allegheny

0

3

748

17

53

821

719

0.86

2.93

Armstrong

0

0

2

0

0

2

16,469

0.04

0.13

Beaver

0

0

1

0

13

14

5,657

0.11

0.37

Bedford

0

0

0

0

0

0

n/a

0.00

0.00

Berks

0

0

47

0

0

47

3,371

0.18

0.62

Blair

0

0

0

1

0

1

56,101

0.01

0.04

Bradford

0

0

0

0

0

0

n/a

0.00

0.00

Bucks

0

0

72

3

13

88

2,699

0.23

0.78

Butler

0

0

2

1

2

5

14,982

0.04

0.14

Cambria

0

0

1

0

0

1

66,215

0.01

0.03

Cameron

0

0

0

0

0

0

n/a

0.00

0.00

Carbon

0

0

2

0

0

2

15,967

0.04

0.13

Centre

0

0

1

1

7

9

6,328

0.10

0.33

Chester

0

0

0

1

16

17

10,516

0.06

0.20

Clarion

0

0

0

0

0

0

n/a

0.00

0.00

Clearfield

0

0

1

0

0

1

38,641

0.02

0.05

Clinton

0

0

0

0

1

1

18,754

0.03

0.11

Columbia

0

0

2

0

0

2

14,351

0.04

0.15

Crawford

0

0

0

0

0

0

n/a

0.00

0.00

Cumberland

0

0

2

2

0

4

23,082

0.03

0.09

Dauphin

0

0

0

0

35

35

3,284

0.19

0.64

Delaware

0

1

197

5

27

230

957

0.64

2.20

Elk

0

1

0

0

0

1

18,343

0.03

0.11

Erie

0

0

1

0

14

15

7,795

0.08

0.27

Fayette

0

0

3

0

1

4

16,812

0.04

0.13

Forest

0

0

0

0

0

0

n/a

0.00

0.00

Franklin

0

1

1

0

0

2

28,994

0.02

0.07

Fulton

0

0

0

1

0

1

7,171

0.09

0.29

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

1

0

0

1

38,251

0.02

0.06

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

85

0

0

85

1,138

0.54

1.85

Lancaster

0

1

1

1

46

49

3,893

0.16

0.54

Lawrence

0

0

1

0

0

1

40,368

0.02

0.05

Lebanon

0

0

27

0

0

27

1,937

0.32

1.09

Lehigh

0

0

6

1

0

7

19,313

0.03

0.11

Luzerne

0

0

5

4

52

61

2,408

0.26

0.87

Lycoming

0

0

0

0

2

2

26,797

0.02

0.08

McKean

0

0

0

0

0

0

n/a

0.00

0.00

Mercer

0

0

0

0

1

1

51,305

0.01

0.04

Mifflin

0

0

0

0

0

0

n/a

0.00

0.00

Monroe

0

0

3

5

21

29

2,609

0.24

0.81

Montgomery

0

0

5

7

53

65

4,750

0.13

0.44

Montour

0

0

0

0

1

1

7,903

0.08

0.27

Northampton

0

0

5

2

25

32

3,566

0.17

0.59

Northumberland

0

0

0

0

0

0

n/a

0.00

0.00

Perry

0

0

0

0

0

0

n/a

0.00

0.00

Philadelphia

0

1

437

26

212

676

976

0.63

2.16

Pike

0

0

0

1

1

2

19,112

0.03

0.11

Potter

0

0

0

0

0

0

n/a

0.00

0.00

Schuylkill

0

0

47

1

0

48

1,441

0.43

1.46

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

1

1

2

11,217

0.05

0.19

Tioga

0

0

4

0

0

4

5,148

0.12

0.41

Union

0

1

1

0

1

3

5,100

0.12

0.41

Venango

0

1

0

0

1

2

13,643

0.05

0.15

Warren

0

0

0

0

0

0

n/a

0.00

0.00

Washington

0

0

2

0

19

21

4,335

0.14

0.49

Wayne

0

1

0

0

0

1

32,205

0.02

0.07

Westmoreland

0

0

136

2

8

146

1,130

0.55

1.86

Wyoming

0

1

0

0

0

1

13,181

0.05

0.16

York

0

0

3

1

1

5

33,775

0.02

0.06

 

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 construction properties, 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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