Pennsylvania Foreclosure Activity Drops in November

Statewide filings down 3 percent from October

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 3,499 Pennsylvania properties in November, a 3 percent decrease from October and 38 percent below the level reported for November 2010, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

Pennsylvania had the 35th highest foreclosure rate in the nation, reporting one in every 1,577 housing units with a foreclosure filing in November.

Delaware County posts top foreclosure rate in the state for November
 One in every 535 housing units in Delaware County had a foreclosure filing in November — 1.1 times the national average and three times the state average — the highest foreclosure rate of all Pennsylvania counties for the month. Philadelphia County had the second highest rate of one in every 654 housing units with a foreclosure filing during the month — 2.4 times the state average. Northampton County had the third highest rate of one in every 804 housing units with a foreclosure filing during the month — twice the state average.

Philadelphia County has highest foreclosure total in November
 Philadelphia County tallied the highest level of foreclosure activity in the state, reporting 1,011 properties with foreclosure filings for the month. Delaware County had the second highest total, reporting 413 properties with foreclosure filings. Allegheny County was third, reporting 368 properties with foreclosure filings. Fourth highest was Montgomery County, recording 209 properties with foreclosure filings. Bucks County was fifth highest, tallying 163 properties with foreclosure filings for the month.

State a moderate contributor to total foreclosure activity in November
 Pennsylvania accounted for 2 percent of the 224,394 properties with foreclosure filings reported nationwide in November. Total U.S. activity decreased by 3 percent from October and was down over 14 percent from the level reported in November 2010. One in every 579 U.S. housing units received a foreclosure filing during the month.

“Despite a seasonal slowdown similar to what we’ve seen in each of the past four years, November’s numbers suggest a new set of incoming foreclosure waves, many of which may roll into the market as REOs or short sales sometime early next year,” said James Saccacio, co-founder of RealtyTrac. “Overall foreclosure activity is down 14 percent from a year ago, the smallest annual decrease over the past 12 months, and some bellwether states such as California, Ohio and Massachusetts actually posted year-over-year increases in foreclosure activity in November.

“Scheduled foreclosure auctions reached a nine-month high in November, corresponding to a recent surge in default notices that began back in August,” Saccacio continued. “Many of the new defaults that started the foreclosure process over the past few months are now being scheduled for public foreclosure auction.”

 

Pennsylvania Top Foreclosure Rates By County – November 2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

37,397

34,333

74,100

22,440

56,124

224,394

579

n/a

n/a

Pennsylvania

0

1,466

0

1,194

839

3,499

1,577

0.37

n/a

 

 

 

 

 

 

 

 

 

 

Delaware

0

169

0

197

47

413

535

1.08

2.95

Philadelphia

0

483

0

237

291

1,011

654

0.89

2.41

Northampton

0

96

0

17

34

147

804

0.72

1.96

Lehigh

0

49

0

92

12

153

908

0.64

1.74

York

0

143

0

0

15

158

1,119

0.52

1.41

 Pennsylvania Top Foreclosure Totals by County – November 2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Oct 11

% Chg Nov 10

 

 

 

 

 

 

 

 

 

 

United States

37,397

34,333

74,100

22,440

56,124

224,394

579

-2.72

-14.46

Pennsylvania

0

1,466

0

1,194

839

3,499

1,577

-3.29

-38.31

 

 

 

 

 

 

 

 

 

 

Philadelphia

0

483

0

237

291

1,011

654

16.47

-38.69

Delaware

0

169

0

197

47

413

535

144.38

10.43

Allegheny

0

105

0

130

133

368

1,610

22.67

-41.59

Montgomery

0

95

0

72

42

209

1,512

-21.72

-36.67

Bucks

0

92

0

61

10

163

1,484

-42.40

-46.73

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved