PENNSYLVANIA FORECLOSURE ACTIVITY UP 4 PERCENT IN AUGUST

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Increases 9 Percent From August 2006

 

IRVINE, Calif. – September 21, 2007 – Pennsylvania reported 3,108 foreclosure filings in August, a 4 percent increase from the previous month, and 9 percent above the number reported in August 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The state’s foreclosure rate — one foreclosure filing for every 1,745 households — was the 33rd highest in the nation.

 

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.

 

“Employment growth in Pennsylvania remains below that of the nation,” said James J. Saccacio, chief executive officer of RealtyTrac. “Following months without much noticeable effect of this trend within the housing market, Pennsylvania is now seeing an increase in foreclosures.”

 

Pennsylvania ranked 19th in the country in total foreclosures reported for August.

 

Philadelphia County leads the state in foreclosure total

Philadelphia County led the state with 742 foreclosure filings for the month. Luzerne County reported the second highest foreclosure total, with 532 foreclosure filings. Allegheny County came in third highest, with 452 foreclosure filings. Delaware County had the fourth highest foreclosure total, with 176 filings entering some part of the foreclosure pipeline.

 

Luzerne County posts highest foreclosure rate

Luzerne County topped the list of highest foreclosure rate in the state for August, with one foreclosure filing for every 276 households — 6.3 times the state average and 1.9 times the national average. Philadelphia County posted the second highest foreclosure rate, with one foreclosure filing for every 889 households — 2.0 times the state average and 0.6 times the national average. Lawrence County posted the third highest rate in the state, one foreclosure filing for every 1,009 households — 1.7 times the state average and 0.5 times the national average. Chester County had the fourth highest rate, one foreclosure filing for every 1,058 households — 1.7 times the state average and 0.5 times the national average.

 

State a contributor to national total

Pennsylvania accounted for 1 percent of the 243,947 foreclosure filings nationwide in August. The national total represents a 36 percent increase from the previous month and is up 115 percent from August 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 510 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 – August 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

56,388

67,632

24,810

52,328

42,789

243,947

510

n/a

n/a

Pennsylvania

0

6

2,228

418

456

3,108

1,745

0.29

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

0

7

0

0

7

5,528

0.09

0.32

Allegheny

0

0

324

9

119

452

1,306

0.39

1.34

Armstrong

0

0

2

0

0

2

16,469

0.03

0.11

Beaver

0

0

47

0

19

66

1,200

0.43

1.45

Bedford

0

0

2

1

0

3

8,071

0.06

0.22

Berks

0

0

78

1

1

80

1,980

0.26

0.88

Blair

0

0

1

0

1

2

28,051

0.02

0.06

Bradford

0

0

0

0

0

0

n/a

0.00

0.00

Bucks

0

0

158

5

2

165

1,440

0.35

1.21

Butler

0

0

47

0

1

48

1,561

0.33

1.12

Cambria

0

0

0

1

0

1

66,215

0.01

0.03

Cameron

0

0

0

0

0

0

 n/a

0.00

0.00

Carbon

0

0

0

1

1

2

15,967

0.03

0.11

Centre

0

0

1

1

3

5

11,391

0.04

0.15

Chester

0

0

165

3

1

169

1,058

0.48

1.65

Clearfield

0

0

3

0

0

3

12,880

0.04

0.14

Clinton

0

0

2

0

0

2

9,377

0.05

0.19

Columbia

0

0

0

0

2

2

14,351

0.04

0.12

Crawford

0

1

2

0

0

3

14,464

0.04

0.12

Cumberland

0

0

56

0

0

56

1,649

0.31

1.06

Dauphin

0

0

5

8

20

33

3,483

0.15

0.50

Delaware

0

1

163

0

12

176

1,251

0.41

1.39

Elk

0

0

0

0

0

0

 n/a

0.00

0.00

Erie

0

0

2

1

44

47

2,488

0.21

0.70

Fayette

0

0

2

0

3

5

13,450

0.04

0.13

Franklin

0

0

1

0

0

1

57,988

0.01

0.03

Fulton

0

0

1

0

0

1

7,171

0.07

0.24

Greene

0

0

0

0

0

0

 n/a

0.00

0.00

Huntingdon

0

0

0

1

0

1

21,834

0.02

0.08

Indiana

0

0

1

0

3

4

9,563

0.05

0.18

Jefferson

0

0

1

1

0

2

11,387

0.04

0.15

Juniata

0

0

1

0

0

1

10,365

0.05

0.17

Lackawanna

0

0

80

1

1

82

1,179

0.43

1.48

Lancaster

0

0

9

3

9

21

9,083

0.06

0.19

Lawrence

0

0

3

2

35

40

1,009

0.51

1.73

Lebanon

0

0

2

1

0

3

17,433

0.03

0.10

Lehigh

0

0

48

2

1

51

2,651

0.19

0.66

Luzerne

0

1

464

6

61

532

276

1.85

6.32

Lycoming

0

0

2

0

0

2

26,797

0.02

0.07

McKean

0

0

0

0

0

0

 n/a

0.00

0.00

Mercer

0

0

0

3

2

5

10,261

0.05

0.17

Mifflin

0

0

0

0

0

0

 n/a

0.00

0.00

Monroe

0

1

7

2

1

11

6,877

0.07

0.25

Montgomery

0

0

64

2

4

70

4,411

0.12

0.40

Montour

0

0

1

0

0

1

7,903

0.06

0.22

Northampton

0

0

15

2

13

30

3,804

0.13

0.46

Northumberland

0

0

0

0

0

0

 n/a

0.00

0.00

Perry

0

0

2

0

0

2

9,805

0.05

0.18

Philadelphia

0

0

372

351

19

742

889

0.57

1.96

Pike

0

0

0

0

2

2

19,112

0.03

0.09

Schuylkill

0

0

59

1

0

60

1,153

0.44

1.51

Snyder

0

0

0

0

0

0

 n/a

0.00

0.00

Somerset

0

0

1

0

0

1

38,003

0.01

0.05

Susquehanna

0

1

1

0

1

3

7,478

0.07

0.23

Tioga

0

0

1

0

0

1

20,590

0.02

0.08

Union

0

0

3

0

0

3

5,100

0.10

0.34

Venango

0

0

0

0

0

0

 n/a

0.00

0.00

Warren

0

0

2

0

0

2

11,686

0.04

0.15

Washington

0

1

8

2

9

20

4,551

0.11

0.38

Wayne

0

0

2

0

0

2

16,103

0.03

0.11

Westmoreland

0

0

8

3

66

77

2,143

0.24

0.81

Wyoming

0

0

0

0

0

0

 n/a

0.00

0.00

York

0

0

2

4

0

6

28,146

0.02

0.06

 

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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