PENNSYLVANIA FORECLOSURE ACTIVITY UP 2 PERCENT IN APRIL

Foreclosure Activity Up 55 Percent From April 2008

 

IRVINE, Calif. – May 29, 2009 – Foreclosure filings were reported on 5,049 Pennsylvania properties in April, a 2 percent increase from the previous month, and 55 percent above the level reported for April 2008, 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 1.5 million properties from over 2,200 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.

 

“Foreclosure activity in Pennsylvania rose slightly in April, remaining significantly higher than a year ago,” said James J. Saccacio, chief executive officer of RealtyTrac. “Contributing directly to the growing number of Pennsylvania foreclosures is the state’s unemployment rate which, though high, remains below the national average.”

 

Pennsylvania ranked 14th in the country in total properties with foreclosure filings for April. One in every 1,085 Pennsylvania housing units received a foreclosure filing during the month, the 31st highest state foreclosure rate in the nation.

 

Philadelphia County leads state in foreclosure activity in April

Philadelphia County led the state, reporting 1,159 properties with foreclosure filings for the month. Allegheny County reported 840 properties with foreclosure filings, the state’s second highest county total. York County came in third highest, reporting 360 properties with foreclosure filings. Montgomery County came in fourth, documenting 344 properties with foreclosure filings, while the fifth highest total was in Delaware County, where 269 properties with foreclosure filings were reported for the month.

 

York County post state’s top foreclosure rate in April

York County topped the list, with one in every 484 housing units receiving a foreclosure filing — 2.2 times the state average. Lawrence County had the second highest foreclosure rate, with one in every 554 housing units receiving a foreclosure filing — twice the state average. Lehigh County documented the third highest foreclosure rate, where one in every 567 housing units received a foreclosure filing during the month — 1.9 times the state average.

 

State a moderate contributor to nation’s foreclosure total in April

Pennsylvania accounted for 1 percent of the 342,038 properties with foreclosure filings reported nationwide in April. The national total represented a negligible increase in activity from the previous month but was still 32 percent ahead of the total reported for April 2008. One in every 374 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 – April 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Mar 09

% Chg Apr 08

 

 

 

 

 

 

 

 

 

 

United States

65,456

76,608

100,559

35,512

63,903

342,038

374

0.25

32.25

Pennsylvania

0

1,928

0

1,806

1,315

5,049

1,085

2.14

54.55

 

 

 

 

 

 

 

 

 

 

Adams

0

1

0

0

2

3

13,216

-70.00

 n/a

Allegheny

0

333

0

271

236

840

704

6.33

20.52

Armstrong

0

1

0

0

0

1

32,705

-96.77

0.00

Beaver

0

1

0

31

51

83

957

20.29

232.00

Bedford

0

0

0

0

0

0

 n/a

 n/a

 n/a

Berks

0

148

0

38

50

236

679

8.76

574.29

Blair

0

0

0

1

1

2

28,066

100.00

0.00

Bradford

0

0

0

0

0

0

 n/a

 n/a

-100.00

Bucks

0

136

0

53

67

256

939

-29.28

-7.25

Butler

0

2

0

50

7

59

1,305

321.43

1.72

Cambria

0

1

0

1

1

3

22,100

200.00

0.00

Cameron

0

0

0

0

0

0

 n/a

 n/a

 n/a

Carbon

0

0

0

8

2

10

3,292

-9.09

900.00

Centre

0

0

0

0

10

10

5,807

0.00

150.00

Chester

0

1

0

20

14

35

5,247

-66.35

-81.96

Clarion

0

0

0

5

0

5

3,995

66.67

 n/a

Clearfield

0

0

0

0

0

0

 n/a

-100.00

-100.00

Clinton

0

0

0

0

0

0

 n/a

 n/a

 n/a

Columbia

0

0

0

0

0

0

 n/a

-100.00

-100.00

Crawford

0

6

0

22

0

28

1,553

180.00

2700.00

Cumberland

0

0

0

5

0

5

18,870

-75.00

150.00

Dauphin

0

85

0

1

7

93

1,252

-42.59

1062.50

Delaware

0

133

0

133

3

269

821

10.25

195.60

Elk

0

0

0

2

2

4

4,591

33.33

300.00

Erie

0

0

0

39

9

48

2,457

-61.60

33.33

Fayette

0

3

0

0

3

6

11,178

-89.66

20.00

Forest

0

2

0

0

0

2

4,434

 n/a

 n/a

Franklin

0

0

0

4

0

4

14,913

-93.22

 n/a

Fulton

0

0

0

0

0

0

 n/a

 n/a

 n/a

Greene

0

0

0

0

0

0

 n/a

-100.00

 n/a

Huntingdon

0

0

0

1

1

2

10,985

 n/a

 n/a

Indiana

0

0

0

13

2

15

2,557

7.14

1400.00

Jefferson

0

6

0

4

0

10

2,285

 n/a

 n/a

Juniata

0

0

0

0

0

0

 n/a

 n/a

 n/a

Lackawanna

0

0

0

80

18

98

991

4800.00

4800.00

Lancaster

0

74

0

69

22

165

1,175

55.66

-21.43

Lawrence

0

0

0

47

26

73

554

1725.00

217.39

Lebanon

0

1

0

35

0

36

1,483

 n/a

3500.00

Lehigh

0

58

0

156

29

243

567

39.66

358.49

Luzerne

0

0

0

3

25

28

5,278

-34.88

-85.64

Lycoming

0

0

0

0

0

0

 n/a

-100.00

-100.00

McKean

0

0

0

0

0

0

 n/a

 n/a

-100.00

Mercer

0

0

0

62

17

79

652

2533.33

3850.00

Mifflin

0

0

0

0

0

0

 n/a

-100.00

-100.00

Monroe

0

0

0

26

20

46

1,706

39.39

820.00

Montgomery

0

152

0

166

26

344

912

77.32

48.28

Montour

0

0

0

0

0

0

 n/a

 n/a

 n/a

Northampton

0

4

0

79

42

125

937

5.04

1462.50

Northumberland

0

0

0

0

1

1

43,778

0.00

-50.00

Perry

0

0

0

0

2

2

9,883

-87.50

-60.00

Philadelphia

0

534

0

138

487

1,159

570

-2.44

58.55

Pike

0

0

0

4

7

11

3,644

57.14

 n/a

Potter

0

0

0

0

0

0

 n/a

 n/a

 n/a

Schuylkill

0

27

0

0

1

28

2,491

-72.55

460.00

Snyder

0

0

0

0

0

0

 n/a

 n/a

 n/a

Somerset

0

10

0

10

4

24

1,585

2300.00

 n/a

Sullivan

0

0

0

0

0

0

 n/a

 n/a

 n/a

Susquehanna

0

0

0

1

0

1

22,539

0.00

 n/a

Tioga

0

3

0

0

0

3

6,896

 n/a

 n/a

Union

0

0

0

0

0

0

 n/a

 n/a

-100.00

Venango

0

0

0

0

0

0

 n/a

-100.00

-100.00

Warren

0

0

0

0

0

0

 n/a

 n/a

 n/a

Washington

0

32

0

29

33

94

980

-10.48

161.11

Wayne

0

0

0

4

11

15

2,193

1400.00

 n/a

Westmoreland

0

58

0

3

24

85

1,954

-65.86

-33.59

Wyoming

0

0

0

0

0

0

 n/a

 n/a

 n/a

York

0

116

0

192

52

360

484

62.90

104.55

 

About RealtyTrac Inc.

RealtyTrac (www.realtytrac.com) is the leading online marketplace of foreclosure properties, with more than 1.5 million default, auction and bank-owned listings from over 2,200 U.S. counties, along with detailed property, loan and home sales data. Hosting more than 3 million unique monthly visitors, RealtyTrac provides innovative technology solutions and practical education resources to facilitate buying, selling and investing in real estate.

Cited by thousands of media outlets each quarter — including all the major news networks, leading publications such as The Wall Street Journal, The New York Times, and USA TODAY, RealtyTrac’s foreclosure data also has been used by the Federal Reserve, FBI, U.S. Senate Joint Economic Committee and Banking Committee, U.S. Treasury Department, and numerous state housing and banking departments to help evaluate foreclosure trends and address policy issues related to foreclosures.

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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