Pennsylvania Foreclosure Activity Rises in October

Statewide filings up 23 percent  from September

Foreclosure filings — default  notices, scheduled auctions and bank repossessions — were reported on 3,618 Pennsylvania properties  in October, a 23 percent increase from September, but still 42 percent below  the level reported for October 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 1,525 housing units with a  foreclosure filing in October.

York County posts top foreclosure rate in the state  for October
  One in every 702 housing units in York County had  a foreclosure filing in October — 2.2 times the state average — the highest  foreclosure rate of all Pennsylvania  counties for the month. Berks County had the second highest rate of one in  every 715 housing units with a foreclosure filing during the month — 2.1 times the  state average. Philadelphia County had the third highest rate of one in every 762  housing units with a foreclosure filing during the month — twice the state  average.

Philadelphia County has state’s highest foreclosure  total in October
  Philadelphia County tallied the highest level of foreclosure activity  in the state, reporting 868 properties with foreclosure filings for October. Allegheny  County was second highest, reporting 300 properties with foreclosure filings. Bucks  County was third, reporting 283 properties with foreclosure filings. Fourth  highest was Montgomery County, recording 267 properties with foreclosure  filings. York County was fifth highest, tallying 252 properties with foreclosure  filings for the month.

State a moderate contributor to total foreclosure  activity in October
  Pennsylvania accounted for 2 percent of the 230,678  properties with foreclosure filings reported nationwide in October. Total U.S. activity  increased by more than 7 percent from September, but was down nearly 31 percent  from the level reported in October 2010. One in every 563 U.S. housing units received  a foreclosure filing during the month.

“The October foreclosure numbers continue to show strong signs that  foreclosure activity is coming out of the rain delay we’ve been in for the past  year as lenders corrected foreclosure paperwork and processing problems,” said  James Saccacio, chief executive officer of RealtyTrac. “However, recent state  court rulings and new state laws keep changing the rules of the foreclosure  game on the fly, creating more uncertainty in the housing market and  threatening to prolong the road to a robust real estate recovery.”

 

Pennsylvania Top Foreclosure Rates By County – October 2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

38,451

39,282

59,380

25,941

67,624

230,678

563

n/a

n/a

Pennsylvania

1

1,123

0

1,374

1,120

3,618

1,525

0.37

n/a

 

 

 

 

 

 

 

 

 

 

York

0

26

0

174

52

252

702

0.80

2.17

Berks

0

116

0

91

19

226

715

0.79

2.13

Philadelphia

0

389

0

235

244

868

762

0.74

2.00

Bucks

0

112

0

60

111

283

855

0.66

1.78

Lawrence

0

0

0

29

18

47

862

0.65

1.77

 Pennsylvania Top Foreclosure Totals by County – October 2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Sep 11

% Chg Oct 10

 

 

 

 

 

 

 

 

 

 

United States

38,451

39,282

59,380

25,941

67,624

230,678

563

7.36

-30.55

Pennsylvania

1

1,123

0

1,374

1,120

3,618

1,525

22.52

-42.43

 

 

 

 

 

 

 

 

 

 

Philadelphia

0

389

0

235

244

868

762

45.39

-42.59

Allegheny

0

1

0

160

139

300

1,975

79.64

-57.02

Bucks

0

112

0

60

111

283

855

93.84

-9.00

Montgomery

0

183

0

69

15

267

1,184

23.04

-32.91

York

0

26

0

174

52

252

702

144.66

-45.81

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