Pennsylvania Foreclosure Activity Speeds Up in July

Statewide foreclosure filings up 1 percent from June

 

Foreclosure activity in Pennsylvania increased 1 percent in July to 5,084 properties with foreclosure filings, 4 percent below the level reported in July 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

Pennsylvania foreclosures were up slightly in July,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest increase was in bank-owned properties and default notices, which both climbed 8 percent for the month. The state’s home sales fell nearly twice the national average during the first quarter. This has likely contributed to the recent rise.”

 

Pennsylvania ranked 13th in the country in total foreclosures reported for the month. With one in every 1,081 housing units receiving a foreclosure filing, its foreclosure rate ranked 34th among the 50 states.

 

Berks County posts top county foreclosure rate in July

Berks County posted the top foreclosure rate in Pennsylvania for the month, with one in every 514 housing units receiving a foreclosure filing in July. Philadelphia County posted the second highest foreclosure rate, with one in every 584 housing units receiving a foreclosure filing during the month. Coming in third was Lehigh County, where one in every 602 housing units received a foreclosure filing in July.

 

Philadelphia County dominates state with top foreclosure total for July

Philadelphia County led Pennsylvania in total foreclosure activity, reporting 1,131 properties with foreclosure filings in July. Second highest Allegheny County reported 685 properties with foreclosure filings. Montgomery County came in third highest, tallying 360 properties with foreclosure filings. Fourth highest was Berks County, where 313 properties with foreclosure filings were reported. Bucks County was fifth, reporting 312 properties with foreclosure filings for the month.

 

State contributes 2 percent to nation’s monthly foreclosure total

Pennsylvania accounted for 2 percent of the 325,229 properties with foreclosure filings reported nationwide in July. Total U.S. activity increased by more than 3 percent from the previous month but was down almost 10 percent from the level reported in July 2009. One in every 397 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 – July 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

42,651

54,472

87,310

47,938

92,858

325,229

397

n/a

n/a

Pennsylvania

0

1,675

0

1,924

1,485

5,084

1,081

0.37

n/a

 

 

 

 

 

 

 

 

 

 

Berks

0

135

0

118

60

313

514

0.77

2.10

Philadelphia

0

360

0

482

289

1,131

584

0.68

1.85

Lehigh

0

61

0

142

27

230

602

0.66

1.80

York

0

212

0

0

79

291

604

0.66

1.79

Northampton

0

7

0

88

80

175

673

0.59

1.61

 

 

Pennsylvania Top Foreclosure Totals by County – July 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg June 10

% Chg July 09

 

 

 

 

 

 

 

 

 

 

United States

42,651

54,472

87,310

47,938

92,858

325,229

397

3.63

-9.70

Pennsylvania

0

1,675

0

1,924

1,485

5,084

1,081

0.57

-4.36

 

 

 

 

 

 

 

 

 

 

Philadelphia

0

360

0

482

289

1,131

584

7.51

-34.55

Allegheny

0

195

0

261

229

685

864

23.65

27.56

Montgomery

0

101

0

122

137

360

876

29.50

-34.07

Berks

0

135

0

118

60

313

514

30.96

31.51

Bucks

0

160

0

105

47

312

773

-18.11

-24.27

 

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved