Pennsylvania Foreclosure Activity Falls in April

Statewide foreclosure filings down 3 percent from March

 

Monthly foreclosure activity in Pennsylvania fell in April, down 3 percent from the previous month to 5,513 properties with foreclosure filings. This latest state total still represents a 9 percent year-over-year increase in foreclosure filings from April 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Pennsylvania reported a slight dip in foreclosure filings for April, though activity remained above what was reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment in the Keystone State continues to be an issue, with its manufacturing sector recently taking the biggest hit amid significant employment gains in the education, health services, leisure and hospitality industries.”

 

The state had the 35th highest state foreclosure rate in the nation with one in 997 Pennsylvania housing units receiving a foreclosure filing during the month.

 

Washington County led the state in foreclosure rate for April

Washington County posted the highest county foreclosure rate in Pennsylvania for April, with one in every 494 housing units receiving a foreclosure filing — twice the state average. York County came in second, with one in every 540 housing units receiving a foreclosure filing — 1.8 times the state average. Berks County was third, with one in every 544 housing units receiving a foreclosure filing — 1.8 times the state average.

 

Philadelphia County led the state in total foreclosures for April

Philadelphia County led the way, reporting 1,099 properties with foreclosure filings for the month. Allegheny County was second highest, documenting 922 properties with foreclosure filings. Reporting 403 properties with foreclosure filings for the month, Bucks County ranked third highest. Montgomery County was fourth, reporting 377 properties with foreclosure filings. A total of 325 properties with foreclosure filings were reported in York County, the fifth highest county total in April.

 

State a modest contributor to nation’s month foreclosure total

Pennsylvania accounted for 2 percent of the 333,837 properties with foreclosure filings reported nationwide in April. Total U.S. activity declined more than 9 percent from the previous month and was 2 percent below the level reported in April 2009. One in every 387 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: Default Notice of Default (NOD) and Lis Pendens (LIS); Auction 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). If more than one foreclosure document is received for a property during the month, only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 

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

 

 

Pennsylvania Top Foreclosure Rates By County – April 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

42,889

60,873

96,770

40,873

92,432

333,837

387

n/a

n/a

Pennsylvania

0

2,152

0

1,948

1,413

5,513

997

0.39

n/a

 

 

 

 

 

 

 

 

 

 

Washington

0

53

0

49

85

187

494

0.78

2.02

York

0

164

0

97

64

325

540

0.72

1.84

Berks

0

120

0

127

49

296

544

0.71

1.83

Bucks

0

195

0

135

73

403

599

0.65

1.67

Philadelphia

0

557

0

401

141

1,099

601

0.64

1.66

 

 

Pennsylvania Top Foreclosure Totals by County – April 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Mar 10

% Chg Apr 09

 

 

 

 

 

 

 

 

 

 

United States

42,889

60,873

96,770

40,873

92,432

333,837

387

-9.05

-2.40

Pennsylvania

0

2,152

0

1,948

1,413

5,513

997

-2.67

9.19

 

 

 

 

 

 

 

 

 

 

Philadelphia

0

557

0

401

141

1,099

601

-19.37

-5.18

Allegheny

0

493

0

246

183

922

642

17.60

9.76

Bucks

0

195

0

135

73

403

599

26.33

57.42

Montgomery

0

147

0

98

132

377

836

12.54

9.59

York

0

164

0

97

64

325

540

-5.80

-9.72

 

 

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