PENNSYLVANIA FORECLOSURE ACTIVITY INCREASES 32 PERCENT IN JULY

ACCORDING TO REALTYTRAC® U.S. FORECLOSURE MARKET REPORT

 

Yearly Total Up Less Than 1 Percent From July 2006

 

IRVINE, Calif. – Aug. 24, 2007 – Pennsylvania reported 2,990 foreclosure filings in July, a 32 percent increase for the previous month, but remained virtually unchanged from July 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.

 

Although Pennsylvania foreclosures increased in July, the numbers haven’t changed since this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state’s home price appreciation level was above the national average during the past year. This is likely keeping foreclosures steady in the region when so many other states are seeing foreclosures rise sharply.”

 

Pennsylvania ranked 16th in the country in total foreclosures reported for the month. The state’s foreclosure rate of one foreclosure filing for every 1,813 households ranked it 24th among the 50 states.

 

Philadelphia County leads all in foreclosure activity for July

Philadelphia County led the state in foreclosure activity for July, reporting 792 foreclosure filings. Allegheny County reported the second highest county total with 415 foreclosure filings. Delaware County reported the third highest county total, 256 foreclosure filings, followed by fourth place Luzerne County, with 253 foreclosure filings in the foreclosure pipeline. Berks County reported the fifth highest county total with 234 foreclosure filings.

 

Luzerne County posts highest foreclosure rate

Luzerne County reported the highest county foreclosure rate in the state for July, with a rate of one foreclosure filing for every 581 households — 3.1 times the state average. Berks County posted the second highest rate, with one foreclosure filing for every 677 households — 2.7 times the state average. York County posted the third highest foreclosure rate, with one foreclosure filing for every 789 households — 2.3 times the state average. Philadelphia County came in fourth with a foreclosure rate of one foreclosure filing for every 833 households — 2.2 times the state average. Delaware County rounded out the state’s top five with a rate of one foreclosure filing for every 860 households — twice the state average.

 

State contributes 2 percent to nation’s monthly total

Total foreclosure filings in Pennsylvania accounted for 2 percent of the 179,599 foreclosure filings nationwide in July. The national total was up 9 percent from the previous month and up 93 percent from July 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 693 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 – July 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

36,741

57,327

23,136

35,553

26,842

179,599

693

n/a

n/a

Pennsylvania

2

12

2,408

374

194

2,990

1,813

0.38

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

0

2

0

0

2

19,347

0.04

0.09

Allegheny

1

5

381

4

24

415

1,423

0.49

1.27

Armstrong

0

0

3

0

2

5

6,588

0.11

0.28

Beaver

0

1

6

2

26

35

2,263

0.31

0.80

Bedford

0

0

1

0

0

1

24,212

0.03

0.07

Berks

0

0

233

1

0

234

677

1.02

2.68

Blair

0

0

0

0

0

0

n/a

0.00

0.00

Bradford

0

0

0

1

0

1

29,274

0.02

0.06

Bucks

0

1

26

3

0

30

7,918

0.09

0.23

Butler

0

0

36

0

1

37

2,025

0.34

0.90

Cambria

0

0

1

2

0

3

22,072

0.03

0.08

Carbon

0

0

2

0

0

2

15,967

0.04

0.11

Centre

0

0

0

0

1

1

56,954

0.01

0.03

Chester

0

0

69

0

1

70

2,554

0.27

0.71

Clearfield

0

0

2

0

0

2

19,321

0.04

0.09

Clinton

0

0

2

0

0

2

9,377

0.07

0.19

Columbia

0

1

3

1

0

5

5,740

0.12

0.32

Crawford

0

0

1

0

0

1

43,393

0.02

0.04

Cumberland

0

0

3

0

0

3

30,776

0.02

0.06

Dauphin

0

0

111

4

8

123

935

0.74

1.94

Delaware

0

0

252

3

1

256

860

0.81

2.11

Erie

0

0

5

0

17

22

5,315

0.13

0.34

Fayette

0

0

7

0

2

9

7,472

0.09

0.24

Franklin

0

0

1

0

0

1

57,988

0.01

0.03

Fulton

0

0

0

0

0

0

n/a

0.00

0.00

Huntingdon

0

0

1

0

0

1

21,834

0.03

0.08

Indiana

0

0

3

0

5

8

4,781

0.15

0.38

Jefferson

0

0

1

0

0

1

22,774

0.03

0.08

Juniata

0

0

1

0

0

1

10,365

0.07

0.17

Lackawanna

0

0

0

3

1

4

24,179

0.03

0.08

Lancaster

0

0

6

0

5

11

17,340

0.04

0.10

Lawrence

0

0

3

0

6

9

4,485

0.15

0.40

Lebanon

0

0

44

0

0

44

1,189

0.58

1.53

Lehigh

0

0

48

0

0

48

2,816

0.25

0.64

Luzerne

0

0

248

5

0

253

581

1.19

3.12

Lycoming

0

0

1

1

21

23

2,330

0.30

0.78

McKean

0

0

0

0

0

0

n/a

0.00

0.00

Mercer

0

0

1

0

0

1

51,305

0.01

0.04

Mifflin

0

0

1

0

0

1

21,192

0.03

0.09

Monroe

1

0

5

1

0

7

10,807

0.06

0.17

Montgomery

0

0

51

1

32

84

3,675

0.19

0.49

Northampton

0

0

10

1

19

30

3,804

0.18

0.48

Northumberland

0

0

3

0

0

3

14,573

0.05

0.12

Perry

0

0

0

0

0

0

n/a

0.00

0.00

Philadelphia

0

3

457

332

0

792

833

0.83

2.18

Pike

0

0

0

1

0

1

38,224

0.02

0.05

Potter

0

0

0

0

0

0

n/a

0.00

0.00

Schuylkill

0

0

3

0

0

3

23,059

0.03

0.08

Snyder

0

0

0

0

0

0

n/a

0.00

0.00

Somerset

0

0

0

0

0

0

n/a

0.00

0.00

Susquehanna

0

0

0

0

0

0

n/a

0.00

0.00

Tioga

0

0

1

0

0

1

20,590

0.03

0.09

Union

0

0

2

0

0

2

7,650

0.09

0.24

Venango

0

0

1

1

0

2

13,643

0.05

0.13

Warren

0

0

2

0

0

2

11,686

0.06

0.16

Washington

0

1

6

2

0

9

10,114

0.07

0.18

Wayne

0

0

1

0

0

1

32,205

0.02

0.06

Westmoreland

0

0

150

2

22

174

948

0.73

1.91

Wyoming

0

0

0

0

0

0

n/a

0.00

0.00

York

0

0

211

3

0

214

789

0.88

2.30

 

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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