PENNSYLVANIA FORECLOSURES UP 16 PERCENT IN DECEMBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

State’s Activity Level Up 12 Percent From a Year Ago

 

IRVINE, Calif. – Jan. 15, 2007 – Pennsylvania reported 3,704 properties entering some stage of the foreclosure process in December, up 16 percent from the 3,201 properties reported in November, and a 12 percent increase from the 3,304 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 over 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.

 

Pennsylvania foreclosures have increased both in December and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show the state’s home prices have continued to decline throughout 2006. This is likely contributing to the overall rise in foreclosures.”

 

Pennsylvania ranked 12th in the country in total foreclosures reported for December. The state’s foreclosure rate of one new foreclosure filing for every 1,417 households ranks it 18th among the 50 states.

 

Top three counties account for largest share of state total

Three counties accounted for 73 percent of all Pennsylvania’s foreclosure activity for the month. Philadelphia County lead the state, reporting 1,727 properties entering some stage of the foreclosure process, followed by Allegheny County where 776 properties entered some stage of the foreclosure process. York County held the third highest total, reporting 210 properties entering some stage of the foreclosure process.

 

State’s top foreclosure rate found in Philadelphia County

Philadelphia County posted the state’s highest foreclosure rate for December, with one new foreclosure filing for every 383 households — 3.7 times the state average and 2.8 times the national average. York County reported the second highest foreclosure rate, with one new foreclosure filing for every 746 households — 1.9 times the state average and 1.4 times the national average — followed by Allegheny County with one new foreclosure filing for every 752 households — 1.9 times the state average and 1.4 times the national average.

 

State contributes 3.4 percent to national total

Pennsylvania’s foreclosure activity accounted for 3.4 percent of the 109,652 properties entering some stage of foreclosure nationwide in December. The national total represents a 9 percent decrease from the 120,334 foreclosures reported in November. The nation’s foreclosure rate decreased to one new foreclosure filing for every 1,055 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 – December 2006

 

County Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

26,593

41,292

5,472

15,887

20,408

109,652

1,055

n/a

n/a

Pennsylvania

2,148

1,217

0

0

339

3,704

1,417

0.74

n/a

 

 

 

 

 

 

 

 

 

 

Adams

1

1

0

0

0

2

17,916

0.06

0.08

Allegheny

389

335

0

0

52

776

752

1.40

1.88

Armstrong

1

0

0

0

0

1

32,387

0.03

0.04

Beaver

3

11

0

0

30

44

1,767

0.60

0.80

Bedford

0

0

0

0

0

0

n/a 

0.00

0.00

Berks

44

3

0

0

0

47

3,196

0.33

0.44

Blair

1

0

0

0

0

1

55,061

0.02

0.03

Bradford

0

0

0

0

0

0

n/a 

0.00

0.00

Bucks

130

70

0

0

1

201

1,122

0.94

1.26

Butler

1

52

0

0

0

53

1,318

0.80

1.08

Cambria

0

0

0

0

0

0

n/a 

0.00

0.00

Cameron

0

0

0

0

0

0

n/a 

0.00

0.00

Carbon

22

1

0

0

0

23

1,326

0.80

1.07

Centre

0

0

0

0

1

1

53,161

0.02

0.03

Chester

80

0

0

0

2

82

1,997

0.53

0.71

Clarion

1

0

0

0

0

1

19,426

0.05

0.07

Columbia

0

1

0

0

0

1

27,733

0.04

0.05

Cumberland

2

3

0

0

0

5

17,390

0.06

0.08

Dauphin

5

7

0

0

18

30

3,704

0.28

0.38

Delaware

3

9

0

0

4

16

13,561

0.08

0.10

Erie

2

6

0

0

51

59

1,938

0.54

0.73

Fayette

1

6

0

0

1

8

8,311

0.13

0.17

Franklin

2

4

0

0

0

6

8,967

0.12

0.16

Huntingdon

0

0

0

0

0

0

n/a 

0.00

0.00

Indiana

1

0

0

0

0

1

37,250

0.03

0.04

Lackawanna

0

0

0

0

0

0

n/a 

0.00

0.00

Lancaster

2

3

0

0

17

22

8,181

0.13

0.17

Lawrence

2

4

0

0

0

6

6,606

0.16

0.21

Lebanon

2

0

0

0

0

2

24,660

0.04

0.06

Lehigh

2

1

0

0

18

21

6,139

0.17

0.23

Luzerne

0

0

0

0

0

0

n/a 

0.00

0.00

Lycoming

1

2

0

0

0

3

17,488

0.06

0.08

Mercer

1

1

0

0

0

2

24,930

0.04

0.06

Monroe

0

1

0

0

29

30

2,253

0.47

0.63

Montgomery

152

36

0

0

0

188

1,582

0.67

0.90

Northampton

1

1

0

0

0

2

53,355

0.02

0.03

Northumberland

1

1

0

0

0

2

21,582

0.05

0.07

Perry

1

0

0

0

0

1

18,941

0.06

0.07

Philadelphia

1,192

478

0

0

57

1,727

383

2.75

3.70

Pike

0

0

0

0

0

0

n/a 

0.00

0.00

Schuylkill

2

42

0

0

0

44

1,541

0.68

0.92

Snyder

0

1

0

0

0

1

14,890

0.07

0.10

Somerset

0

0

0

0

0

0

n/a 

0.00

0.00

Susquehanna

0

0

0

0

0

0

n/a 

0.00

0.00

Venango

1

1

0

0

0

2

13,452

0.08

0.11

Warren

1

0

0

0

0

1

23,058

0.05

0.06

Washington

3

3

0

0

10

16

5,454

0.19

0.26

Wayne

0

0

0

0

0

0

n/a 

0.00

0.00

Westmoreland

5

13

0

0

48

66

2,440

0.43

0.58

Wyoming

0

0

0

0

0

0

n/a 

0.00

0.00

York

90

120

0

0

0

210

746

1.41

1.90

 

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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