PENNSYLVANIA FORECLOSURES INCREASE 19 PERCENT IN NOVEMBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Also Up 19 Percent From a Year Ago

 

IRVINE, Calif. – Dec. 11, 2006 – Pennsylvania reported 3,201 properties entering some stage of the foreclosure process in November, a 19 percent increase from the 2,698 properties reported in October, and also a 19 percent increase from the 2,701 properties reported for the same month last year, according to the RealtyTrac™ U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with nearly 700,000 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.

 

“Though Pennsylvania has seen continued job growth, providing a safety net for homeowners who need to quickly find a source of income to stay current on their mortgage payments,” said James J. Saccacio, chief executive officer of RealtyTrac. “In addition, Pennsylvania’s home prices appreciated at a slightly faster rate than the national average in the third quarter, another buffer for homeowners facing temporary financial difficulty.”

 

Pennsylvania ranked 13th in the country in total foreclosures reported for November. The state’s foreclosure rate of one new foreclosure filing for every 1,640 households ranked 22nd among the 50 states.

 

Philadelphia County tops in foreclosure activity and foreclosure rate

Philadelphia County accounted for the largest share of the state’s foreclosure activity, reporting 1,296 properties entering some stage of the foreclosure process during the month. Allegheny County documented the second highest total, reporting 646 properties entering some stage of foreclosure. Third highest was Luzerne County, reporting 277 properties in foreclosure, followed by Montgomery County, reporting 180 in the foreclosure pipeline.

 

Philadelphia County also posted the state’s highest foreclosure rate in November, one new foreclosure filing for every 511 households — 3.2 times the state average and 1.9 times the national average. Reporting one new foreclosure filing for every 522 households — 3.1 times the state average and 1.8 times the national average — Luzerne County documented the second highest foreclosure rate in the state.

 

Pennsylvania accounts for nearly 3 percent of U.S. total

Pennsylvania’s foreclosure activity accounted for just fewer than 3 percent of the 120,334 properties entering some stage of foreclosure nationwide in November. The national total represents an almost 4 percent increase in activity from the 115,568 foreclosures reported in August. The national foreclosure rate increased to one new foreclosure filing for every 961 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).

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

              Pennsylvania Foreclosure Market by County – November 2006

 

State Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

31,027

44,448

5,685

16,263

22,911

120,334

961

n/a

n/a

Pennsylvania

1,296

1,427

0

0

478

3,201

1,640

0.58

n/a

 

 

 

 

 

 

 

 

 

 

Adams

1

1

0

0

0

2

17,916

0.05

0.09

Allegheny

333

287

0

0

26

646

904

1.06

1.81

Armstrong

0

2

0

0

1

3

10,796

0.08

0.15

Beaver

1

2

0

0

20

23

3,381

0.28

0.48

Bedford

0

0

0

0

0

0

n/a 

0.00

0.00

Berks

0

3

0

0

7

10

15,022

0.06

0.10

Blair

0

1

0

0

0

1

55,061

0.01

0.03

Bradford

0

1

0

0

0

1

28,664

0.03

0.05

Bucks

63

44

0

0

11

118

1,911

0.50

0.85

Butler

0

3

0

0

0

3

23,289

0.04

0.07

Cambria

0

0

0

0

0

0

n/a 

0.00

0.00

Carbon

20

0

0

0

1

21

1,452

0.66

1.13

Centre

1

2

0

0

0

3

17,720

0.05

0.09

Chester

26

1

0

0

16

43

3,808

0.25

0.43

Clearfield

0

0

0

0

0

0

n/a 

0.00

0.00

Columbia

0

2

0

0

0

2

13,867

0.06

0.11

Cumberland

1

65

0

0

0

66

1,317

0.72

1.24

Dauphin

3

2

0

0

56

61

1,822

0.52

0.90

Delaware

5

13

0

0

1

19

11,420

0.08

0.14

Erie

1

1

0

0

28

30

3,811

0.25

0.43

Fayette

2

2

0

0

0

4

16,623

0.05

0.09

Franklin

1

0

0

0

0

1

53,803

0.01

0.03

Huntingdon

0

1

0

0

0

1

21,508

0.04

0.07

Indiana

0

0

0

0

1

1

37,250

0.02

0.04

Juniata

0

0

0

0

0

0

n/a 

0.00

0.00

Lackawanna

0

3

0

0

0

3

31,787

0.03

0.05

Lancaster

37

1

0

0

37

75

2,400

0.40

0.68

Lawrence

0

2

0

0

3

5

7,927

0.12

0.20

Lebanon

0

1

0

0

0

1

49,320

0.01

0.03

Lehigh

1

3

0

0

4

8

16,114

0.06

0.10

Luzerne

4

273

0

0

0

277

522

1.84

3.14

Lycoming

1

0

0

0

11

12

4,372

0.22

0.37

Mckean

1

0

0

0

0

1

21,644

0.04

0.07

Mercer

1

0

0

0

0

1

49,859

0.01

0.03

Mifflin

0

0

0

0

0

0

n/a 

0.00

0.00

Monroe

2

2

0

0

11

15

4,505

0.21

0.36

Montgomery

129

51

0

0

0

180

1,652

0.58

0.99

Northampton

1

1

0

0

0

2

53,355

0.01

0.03

Northumberland

0

3

0

0

0

3

14,388

0.06

0.11

Perry

1

2

0

0

0

3

6,314

0.15

0.26

Philadelphia

554

530

0

0

212

1,296

511

1.88

3.21

Pike

1

0

0

0

0

1

34,681

0.02

0.04

Schuylkill

1

2

0

0

0

3

22,602

0.04

0.07

Susquehanna

0

0

0

0

0

0

n/a 

0.00

0.00

Tioga

0

2

0

0

0

2

9,947

0.09

0.16

Union

0

1

0

0

0

1

14,684

0.06

0.11

Venango

1

2

0

0

0

3

8,968

0.10

0.18

Warren

0

0

0

0

0

0

n/a 

0.00

0.00

Washington

1

2

0

0

18

21

4,156

0.23

0.39

Wayne

0

0

0

0

0

0

n/a 

0.00

0.00

Westmoreland

2

109

0

0

14

125

1,288

0.74

1.27

Wyoming

0

0

0

0

0

0

n/a 

0.00

0.00

York

100

4

0

0

0

104

1,507

0.63

1.08

 

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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