Pennsylvania Foreclosure Activity Trends Downward in May

Total foreclosure filings statewide down 13 percent from April

 

Pennsylvania foreclosure activity fell in May to 4,376 properties with foreclosure filings, a 13 percent decrease from the previous month, but still 35 percent ahead of May 2008, according to RealtyTrac’s® latest U.S. Foreclosure Market Report.  

 

Pennsylvania foreclosures headed downward in May,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state’s unemployment rate has remained steady at more than 1 percent below the national average during March and April. This is likely contributing to the recent decline.”

 

Pennsylvania ranked 15th in the country in total foreclosures reported for the month. With one in every 1,252 housing units receiving a foreclosure filing, its foreclosure rate ranked 32nd among the 50 states.

 

Five counties accounted for 59 percent of state’s foreclosure activity for May

Philadelphia County led all counties, reporting 994 properties with foreclosure filings for the month. Allegheny County posted the second highest total, where 734 properties with foreclosure filings were reported. Delaware County had the third highest total, reporting 355 properties with foreclosure filings, followed by Bucks County, where 272 properties with foreclosure filings were tallied. Lancaster County held the fifth highest total, where 225 properties with foreclosure filings were reported for the month.

 

Delaware County posts state’s highest foreclosure rate for May

Delaware County posted the highest county foreclosure rate in the state, with one in every 622 housing units receiving a foreclosure filing during the month. Philadelphia County had the second highest rate, with one in every 665 housing units receiving a foreclosure filing. Berks County posted the third highest rate, where one in every 756 housing units received a foreclosure filing during the month.

 

State contributes 1 percent to nation’s foreclosure activity for May

Foreclosure activity in Pennsylvania represented 1 percent of the 321,480 properties with foreclosure filings reported nationwide in May. Total U.S. activity fell 6 percent from the previous month but was still nearly 18 percent ahead of May 2008. One in every 398 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac Monthly U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing reported during the month — broken out by type of filing at the county, state and national level. 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 filed against a property during the month — which is extremely rare — 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 Foreclosure Market Data by County – May 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Apr 09

% Chg May 08

 

 

 

 

 

 

 

 

 

 

United States

55,442

67,687

100,578

32,756

65,017

321,480

398

– 6.01

17.76

Pennsylvania

0

1,844

0

1,633

899

4,376

1,252

-13.33

34.98

 

 

 

 

 

 

 

 

 

 

Adams

0

2

0

8

1

11

3,604

266.67

1000.00

Allegheny

0

424

0

237

73

734

806

-12.62

2.95

Armstrong

0

1

0

1

2

4

8,176

300.00

 n/a

Beaver

0

2

0

50

17

69

1,152

-16.87

43.75

Bedford

0

0

0

0

0

0

 n/a

 n/a

 n/a

Berks

0

136

0

33

43

212

756

-10.17

236.51

Blair

0

0

0

0

1

1

56,132

-50.00

0.00

Bradford

0

0

0

0

0

0

 n/a

 n/a

 n/a

Bucks

0

147

0

95

30

272

883

6.25

0.00

Butler

0

1

0

1

33

35

2,200

-40.68

288.89

Cambria

0

0

0

0

6

6

11,050

100.00

100.00

Cameron

0

0

0

0

0

0

 n/a

 n/a

 n/a

Carbon

0

0

0

8

6

14

2,352

40.00

180.00

Centre

0

0

0

22

12

34

1,708

240.00

142.86

Chester

0

0

0

76

24

100

1,836

185.71

-22.48

Clarion

0

0

0

0

0

0

 n/a

-100.00

 n/a

Clearfield

0

0

0

1

0

1

38,768

 n/a

0.00

Clinton

0

0

0

0

0

0

 n/a

 n/a

 n/a

Columbia

0

0

0

0

2

2

14,432

 n/a

100.00

Crawford

0

0

0

18

2

20

2,174

-28.57

 n/a

Cumberland

0

2

0

1

2

5

18,870

0.00

-89.80

Dauphin

0

42

0

0

42

84

1,386

-9.68

394.12

Delaware

0

169

0

89

97

355

622

31.97

148.25

Elk

0

0

0

4

1

5

3,673

25.00

25.00

Erie

0

0

0

42

28

70

1,685

45.83

-16.67

Fayette

0

3

0

7

3

13

5,159

116.67

 n/a

Forest

0

0

0

0

0

0

 n/a

-100.00

 n/a

Franklin

0

0

0

0

0

0

 n/a

-100.00

 n/a

Fulton

0

0

0

0

0

0

 n/a

 n/a

 n/a

Greene

0

0

0

7

0

7

2,452

 n/a

 n/a

Huntingdon

0

0

0

0

0

0

 n/a

-100.00

 n/a

Indiana

0

1

0

11

3

15

2,557

0.00

1400.00

Jefferson

0

0

0

0

0

0

 n/a

-100.00

 n/a

Juniata

0

0

0

0

0

0

 n/a

 n/a

 n/a

Lackawanna

0

0

0

1

2

3

32,380

-96.94

-96.25

Lancaster

0

92

0

110

23

225

861

36.36

525.00

Lawrence

0

0

0

0

7

7

5,773

-90.41

600.00

Lebanon

0

1

0

46

0

47

1,136

30.56

42.42

Lehigh

0

45

0

66

26

137

1,005

-43.62

280.56

Luzerne

0

0

0

2

13

15

9,852

-46.43

-61.54

Lycoming

0

0

0

1

0

1

53,885

 n/a

-95.00

McKean

0

0

0

0

1

1

21,718

 n/a

 n/a

Mercer

0

0

0

2

0

2

25,755

-97.47

 n/a

Mifflin

0

0

0

23

0

23

923

 n/a

 n/a

Monroe

0

0

0

19

54

73

1,075

58.70

1725.00

Montgomery

0

49

0

32

28

109

2,878

-68.31

-60.79

Montour

0

0

0

0

0

0

 n/a

 n/a

 n/a

Northampton

0

4

0

52

39

95

1,233

-24.00

458.82

Northumberland

0

1

0

1

0

2

21,889

100.00

100.00

Perry

0

0

0

0

8

8

2,471

300.00

700.00

Philadelphia

0

462

0

379

153

994

665

-14.24

77.18

Pike

0

0

0

2

11

13

3,083

18.18

 n/a

Potter

0

0

0

0

0

0

 n/a

 n/a

-100.00

Schuylkill

0

28

0

32

2

62

1,125

121.43

44.19

Snyder

0

0

0

0

0

0

 n/a

 n/a

 n/a

Somerset

0

11

0

11

0

22

1,729

-8.33

2100.00

Sullivan

0

0

0

0

0

0

 n/a

 n/a

n/a 

Susquehanna

0

0

0

0

0

0

 n/a

-100.00

 n/a

Tioga

0

0

0

0

0

0

 n/a

-100.00

 n/a

Union

0

0

0

0

1

1

15,521

 n/a

 n/a

Venango

0

0

0

1

0

1

27,307

 n/a

 n/a

Warren

0

0

0

0

0

0

 n/a

 n/a

 n/a

Washington

0

23

0

41

17

81

1,137

-13.83

55.77

Wayne

0

0

0

0

7

7

4,700

-53.33

75.00

Westmoreland

0

57

0

98

60

215

772

152.94

-22.66

Wyoming

0

0

0

0

1

1

13,270

 n/a

 n/a

York

0

141

0

3

18

162

1,074

-55.00

-18.59

 

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