PENNSYLVANIA FORECLOSURES DECREASE 18 PERCENT IN APRIL

Activity Down 2 Percent From a Year Earlier

 

IRVINE, Calif. – May 18, 2007 – Pennsylvania reported 2,390 foreclosure filings in April, an 18 percent decrease in activity from the previous month, and 2 percent below the level reported for the same month last year, according to the latest RealtyTrac™ U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 900,000 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. “However, the state is managing to keep foreclosure activity down, both on a month to month basis and compared to last year.”

 

Pennsylvania ranked 17th in the country in total foreclosures reported for March. The state posted the 30th highest foreclosure rate in the country for the month — one foreclosure filing for every 2,197 households — way below the national average.

 

Three counties account for bulk of state’s foreclosure activity

Foreclosure filings in three Pennsylvania counties accounted for 64 percent of all foreclosure activity in the state for April. Philadelphia County led the state, reporting 985 foreclosure filings for the month. Allegheny County came in second, reporting 440 foreclosure filings. Third highest total was reported by Lehigh County with 103 filings.

 

Philadelphia County leads state in foreclosure rate for the month

Philadelphia County posted the highest foreclosure rate in the state for April — one foreclosure filing for every 672 households — 3.3 times the state average and 1.2 times the national average. Cumberland County tallied the state’s second highest rate — one foreclosure filing for every 935 households — 2.4 times the state average. Third highest was Beaver County with one foreclosure filing for every 1,127 households — twice the state average.

 

State makes contribution to national total

Total foreclosure filings in Pennsylvania accounted for 2 percent of the 147,708 filings nationwide in April. The national total was down less than 1 percent from the previous month, but still up 62 percent from April 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 783 U.S. households during the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. 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 – April 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

47,171

49,794

7,388

21,085

22,270

147,708

783

n/a

n/a

Pennsylvania

302

1,825

0

0

263

2,390

2,197

0.36

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

2

0

0

0

2

17,916

0.04

0.12

Allegheny

4

400

0

0

36

440

1,327

0.59

1.66

Armstrong

0

0

0

0

4

4

8,097

0.10

0.27

Beaver

0

34

0

0

35

69

1,127

0.69

1.95

Bedford

0

0

0

0

0

0

 

0.00

0.00

Berks

0

89

0

0

0

89

1,688

0.46

1.30

Blair

0

2

0

0

0

2

27,531

0.03

0.08

Bradford

0

1

0

0

0

1

28,664

0.03

0.08

Bucks

1

43

0

0

0

44

5,125

0.15

0.43

Butler

0

34

0

0

0

34

2,055

0.38

1.07

Cambria

0

2

0

0

0

2

32,898

0.02

0.07

Cameron

0

0

0

0

0

0

 

0.00

0.00

Carbon

0

1

0

0

0

1

30,492

0.03

0.07

Centre

0

1

0

0

2

3

17,720

0.04

0.12

Chester

1

49

0

0

19

69

2,373

0.33

0.93

Clearfield

0

0

0

0

0

0

 

0.00

0.00

Clinton

0

0

0

0

0

0

 

0.00

0.00

Columbia

0

0

0

0

0

0

 

0.00

0.00

Crawford

0

1

0

0

0

1

42,416

0.02

0.05

Cumberland

0

93

0

0

0

93

935

0.84

2.35

Dauphin

0

5

0

0

15

20

5,557

0.14

0.40

Delaware

0

15

0

0

1

16

13,561

0.06

0.16

Erie

0

2

0

0

36

38

3,009

0.26

0.73

Fayette

0

2

0

0

2

4

16,623

0.05

0.13

Franklin

0

1

0

0

0

1

53,803

0.01

0.04

Huntingdon

0

0

0

0

0

0

 

0.00

0.00

Indiana

0

1

0

0

0

1

37,250

0.02

0.06

Jefferson

0

0

0

0

0

0

 

0.00

0.00

Lackawanna

0

67

0

0

0

67

1,423

0.55

1.54

Lancaster

0

3

0

0

20

23

7,826

0.10

0.28

Lawrence

0

10

0

0

25

35

1,132

0.69

1.94

Lebanon

0

1

0

0

0

1

49,320

0.02

0.04

Lehigh

0

103

0

0

0

103

1,252

0.63

1.76

Luzerne

4

7

0

0

0

11

13,153

0.06

0.17

Lycoming

1

1

0

0

19

21

2,498

0.31

0.88

Mckean

0

1

0

0

0

1

21,644

0.04

0.10

Mercer

1

2

0

0

0

3

16,620

0.05

0.13

Mifflin

0

1

0

0

0

1

20,745

0.04

0.11

Monroe

1

3

0

0

0

4

16,895

0.05

0.13

Montgomery

2

93

0

0

0

95

3,131

0.25

0.70

Northampton

0

15

0

0

0

15

7,114

0.11

0.31

Northumberland

0

1

0

0

0

1

43,164

0.02

0.05

Perry

0

1

0

0

0

1

18,941

0.04

0.12

Philadelphia

282

703

0

0

0

985

672

1.16

3.27

Pike

1

0

0

0

0

1

34,681

0.02

0.06

Potter

0

0

0

0

0

0

 

0.00

0.00

Schuylkill

1

3

0

0

0

4

16,952

0.05

0.13

Snyder

0

0

0

0

0

0

 

0.00

0.00

Somerset

0

0

0

0

0

0

 

0.00

0.00

Susquehanna

0

1

0

0

0

1

21,829

0.04

0.10

Union

0

1

0

0

0

1

14,684

0.05

0.15

Warren

1

0

0

0

0

1

23,058

0.03

0.10

Washington

0

9

0

0

8

17

5,133

0.15

0.43

Wayne

0

1

0

0

0

1

30,593

0.03

0.07

Westmoreland

2

12

0

0

41

55

2,928

0.27

0.75

York

0

8

0

0

0

8

19,590

0.04

0.11

 

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 construction properties, 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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