PENNSYLVANIA FORECLOSURES DECREASE 22 PERCENT IN JUNE

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Down 20 Percent From June 2006

 

IRVINE, Calif. – July 31, 2007 – Pennsylvania reported 2,258 foreclosure filings in June, a 22 percent decrease from the previous month, and a 20 percent decrease from June 2006, 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 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. “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 June. The state’s foreclosure rate of one new foreclosure filing for every 2,325 households ranked 31st among the 50 states.

 

Two counties account for most foreclosure activity for June

The top two counties accounted for 61 percent of the state’s activity. Philadelphia County led the state in foreclosure activity for June, reporting 886 foreclosure filings. Allegheny County reported the second highest foreclosure total, with 496 foreclosure filings. Lehigh County came in third with 133 foreclosure filings for the month.

 

Philadelphia County posts highest foreclosure rate

Philadelphia County posted the highest foreclosure rate in the state for June, with one foreclosure filing for every 747 households — three times the state average. Lehigh County posted the second highest foreclosure rate in the state, with one foreclosure filing for every 969 households — 2.4 times the state average. Lackawanna County posted the third highest foreclosure rate, with one foreclosure filing for every 993 households — 2.3 times the state average.

 

State a contributor to national total

Total foreclosure filings in Pennsylvania accounted for 1 percent of the 164,644 foreclosure filings nationwide in June. The national total was down 7 percent from the previous month but still up 87 percent from June 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 704 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 – June 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

36,048

51,492

12,488

38,247

26,369

164,644

704

n/a

n/a

Pennsylvania

0

1,348

154

363

393

2,258

2,325

0.30

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

0

0

0

0

0

n/a

0.00

0.00

Allegheny

0

337

37

7

115

496

1,177

0.60

1.98

Armstrong

0

0

0

0

1

1

32,387

0.02

0.07

Beaver

0

22

1

2

10

35

2,222

0.32

1.05

Bedford

0

0

0

1

0

1

23,529

0.03

0.10

Berks

0

109

4

1

2

116

1,295

0.54

1.80

Blair

0

0

0

0

0

0

n/a

0.00

0.00

Bradford

0

0

0

1

0

1

28,664

0.02

0.08

Bucks

0

112

3

2

3

120

1,879

0.37

1.24

Butler

0

0

0

0

1

1

69,868

0.01

0.03

Cambria

0

0

1

0

1

2

32,898

0.02

0.07

Carbon

0

0

0

0

0

0

n/a

0.00

0.00

Centre

0

0

1

0

1

2

26,581

0.03

0.09

Chester

0

0

5

2

1

8

20,467

0.03

0.11

Clarion

0

0

0

0

0

0

n/a

0.00

0.00

Clearfield

0

0

0

0

3

3

12,618

0.06

0.18

Clinton

0

0

0

0

1

1

18,166

0.04

0.13

Columbia

0

0

0

1

1

2

13,867

0.05

0.17

Cumberland

0

3

2

2

5

12

7,246

0.10

0.32

Dauphin

0

0

5

0

40

45

2,470

0.29

0.94

Delaware

0

0

10

0

6

16

13,561

0.05

0.17

Erie

0

0

2

2

15

19

6,017

0.12

0.39

Fayette

0

0

0

0

2

2

33,245

0.02

0.07

Franklin

0

0

0

0

0

0

n/a

0.00

0.00

Indiana

0

0

0

0

1

1

37,250

0.02

0.06

Juniata

0

0

1

0

0

1

10,031

0.07

0.23

Lackawanna

0

93

2

0

1

96

993

0.71

2.34

Lancaster

0

1

2

1

26

30

6,000

0.12

0.39

Lawrence

0

1

4

0

20

25

1,585

0.44

1.47

Lebanon

0

0

0

0

0

0

n/a

0.00

0.00

Lehigh

0

131

0

0

2

133

969

0.73

2.40

Luzerne

0

6

3

5

3

17

8,511

0.08

0.27

Lycoming

0

1

0

0

0

1

52,464

0.01

0.04

Mckean

0

0

0

1

0

1

21,644

0.03

0.11

Mercer

0

0

5

1

3

9

5,540

0.13

0.42

Mifflin

0

0

1

1

0

2

10,373

0.07

0.22

Monroe

0

0

5

5

5

15

4,505

0.16

0.52

Montgomery

0

2

3

4

23

32

9,295

0.08

0.25

Northampton

0

8

3

1

32

44

2,425

0.29

0.96

Northumberland

0

0

1

0

0

1

43,164

0.02

0.05

Perry

0

0

0

0

3

3

6,314

0.11

0.37

Philadelphia

0

514

38

319

15

886

747

0.94

3.11

Pike

0

0

1

0

0

1

34,681

0.02

0.07

Schuylkill

0

0

1

0

0

1

67,806

0.01

0.03

Snyder

0

0

0

0

0

0

n/a

0.00

0.00

Susquehanna

0

1

0

0

0

1

21,829

0.03

0.11

Tioga

0

0

0

1

0

1

19,893

0.04

0.12

Venango

0

0

1

0

1

2

13,452

0.05

0.17

Warren

0

0

0

0

1

1

23,058

0.03

0.10

Washington

0

2

5

0

5

12

7,272

0.10

0.32

Wayne

0

2

0

0

0

2

15,297

0.05

0.15

Westmoreland

0

1

6

1

42

50

3,221

0.22

0.72

Wyoming

0

0

0

0

1

1

12,713

0.06

0.18

York

0

2

1

2

1

6

26,120

0.03

0.09

 

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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