Report: Pa. foreclosure inventory higher than national rate
Pennsylvania has averaged nearly 1,250 completed foreclosures per month over the last year.
The commonwealth was No. 5 among judicial states, or states where foreclosures are processed through the courts, and No. 13 out of all states, according to California-based CoreLogic.
Pennsylvania had about 15,000 completed foreclosures over the year ending in February. That number represented about 2.5 percent of all completed foreclosures, according to CoreLogic.
Florida continues to lead the way. It had 117,564 over the 12-month period. Michigan was No. 2 with 49,803.
As of February, there were about 752,000 U.S. homes, or 1.9 percent, in some stage of foreclosure, known as the foreclosure inventory. That was down from 1.2 million, or 2.9 percent, in February 2013.
In Pennsylvania, the percentage was 2.3 percent. That was down from 2.8 percent a year earlier, according to CoreLogic.
The seriously delinquent properties — those with mortgages 90 days or more past due — account for 4.9 percent of U.S. properties. In Pennsylvania, that rate was 5.6 percent in February.
New Jersey is now the leader for highest foreclosure inventory at 6.2 percent. Florida is No. 2 at 6 percent, according to CoreLogic. Wyoming has the lowest at 0.3 percent.