PENNSYLVANIA FORECLOSURES FLAT IN AUGUST

State’s Activity Still 18 Percent Higher Than a Year Ago

 

IRVINE, Calif. – August 31, 2006 – Pennsylvania reported 2,986 properties entering some stage of the foreclosure process in August, a less than 1 percent increase in activity from the 2,975 properties reported in July, but still 18 percent above the 2,539 properties reported for the same month last year, according to the RealtyTrac™ August 2006 U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with more than 600,000 properties from more than 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and Knight Ridder Online.

 

“Though foreclosure activity is up compared to last year, strong growth, solid home price appreciation and increased real estate sales have kept Pennsylvania‘s foreclosure rate relatively low on a month-to-month basis,” said James J. Saccacio, chief executive officer of RealtyTrac.

 

Pennsylvania ranked 12th in the country in total foreclosures reported for August. The state’s foreclosure rate of one new foreclosure filing for every 1,758 households — almost 60 percent of the national average — ranks it 21st among the 50 states.

 

Two counties lead the state in foreclosure activity

Philadelphia County led the state in foreclosure activity for the month, reporting 785 properties entering some stage of the foreclosure process. Allegheny County was the second most active, reporting 620 properties entering some stage of the foreclosure process.

 

Highest foreclosure rate reported in Dauphin County

Dauphin County posted the state’s highest foreclosure rate in August, with one new foreclosure filing for every 650 households — 2.7 times the state average and 1.5 times the national average.  Reporting one new foreclosure filing for every 822 households — 2.1 times the state average and 1.2 times the national average — Luzerne County had the second highest foreclosure rate in the state.

 

State accounts for 3 percent of national total

Pennsylvania‘s foreclosure activity accounted for nearly 3 percent of the 115,292 properties entering some stage of the foreclosure process nationwide in August. The national total represents a 24 percent increase from the 92,845 foreclosures reported in July. The nation’s foreclosure rate increased to one new foreclosure filing for every 1,003 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: Pre-foreclosures — Notice of Default (NOD) and Lis Pendens (LIS); Foreclosures — 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).

 

                        Pennsylvania Foreclosure Market by County – August 2006

 

State Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

20,611

45,704

7,328

21,533

20,116

115,292

1,003

Pennsylvania

575

2,066

0

0

345

2,986

1,758

0.57

 

 

 

 

 

 

 

 

 

 

Adams

0

3

0

0

0

3

11,944

0.08

0.15

Allegheny

224

387

0

0

9

620

941

1.07

1.87

Armstrong

0

1

0

0

1

2

16,194

0.06

0.11

Beaver

1

40

0

0

19

60

1,296

0.77

1.36

Bedford

0

0

0

0

0

0

0.00

0.00

Berks

4

58

0

0

0

62

2,423

0.41

0.73

Blair

0

1

0

0

0

1

55,061

0.02

0.03

Bradford

0

0

0

0

0

0

0.00

0.00

Bucks

32

99

0

0

0

131

1,721

0.58

1.02

Butler

0

53

0

0

0

53

1,318

0.76

1.33

Cambria

1

2

0

0

0

3

21,932

0.05

0.08

Carbon

5

0

0

0

0

5

6,098

0.16

0.29

Centre

0

0

0

0

1

1

53,161

0.02

0.03

Chester

21

43

0

0

0

64

2,558

0.39

0.69

Clarion

0

1

0

0

0

1

19,426

0.05

0.09

Clearfield

0

2

0

0

0

2

18,928

0.05

0.09

Crawford

1

0

0

0

0

1

42,416

0.02

0.04

Cumberland

0

76

0

0

1

77

1,129

0.89

1.56

Dauphin

5

1

0

0

165

171

650

1.54

2.71

Delaware

6

102

0

0

5

113

1,920

0.52

0.92

Elk

0

0

0

0

1

1

18,115

0.06

0.10

Erie

1

3

0

0

19

23

4,971

0.20

0.35

Fayette

2

3

0

0

1

6

11,082

0.09

0.16

Franklin

0

0

0

0

0

0

0.00

0.00

Fulton

0

0

0

0

0

0

0.00

0.00

Huntingdon

0

3

0

0

0

3

7,169

0.14

0.25

Indiana

0

2

0

0

0

2

18,625

0.05

0.09

Juniata

0

1

0

0

0

1

10,031

0.10

0.18

Lackawanna

4

2

0

0

0

6

15,894

0.06

0.11

Lancaster

0

7

0

0

23

30

6,000

0.17

0.29

Lawrence

1

5

0

0

39

45

881

1.14

2.00

Lebanon

1

4

0

0

0

5

9,864

0.10

0.18

Lehigh

0

98

0

0

9

107

1,205

0.83

1.46

Luzerne

7

169

0

0

0

176

822

1.22

2.14

Lycoming

0

0

0

0

2

2

26,232

0.04

0.07

Mercer

1

0

0

0

0

1

49,859

0.02

0.04

Mifflin

0

0

0

0

0

0

0.00

0.00

Monroe

1

6

0

0

0

7

9,654

0.10

0.18

Montgomery

42

140

0

0

6

188

1,582

0.63

1.11

Montour

0

1

0

0

0

1

7,627

0.13

0.23

Northampton

0

4

0

0

0

4

26,678

0.04

0.07

Northumberland

0

0

0

0

0

0

0.00

0.00

Perry

0

0

0

0

0

0

0.00

0.00

Philadelphia

182

602

0

0

1

785

843

1.19

2.09

Pike

1

1

0

0

0

2

17,341

0.06

0.10

Schuylkill

0

5

0

0

0

5

13,561

0.07

0.13

Snyder

0

1

0

0

0

1

14,890

0.07

0.12

Susquehanna

0

0

0

0

0

0

0.00

0.00

Tioga

0

1

0

0

0

1

19,893

0.05

0.09

Union

0

1

0

0

0

1

14,684

0.07

0.12

Washington

4

7

0

0

9

20

4,363

0.23

0.40

Wayne

0

0

0

0

0

0

0.00

0.00

Westmoreland

5

16

0

0

34

55

2,928

0.34

0.60

Wyoming

1

0

0

0

0

1

12,713

0.08

0.14

York

22

115

0

0

0

137

1,144

0.88

1.54

 

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 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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