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Report: Foreclosure inventory in Pa. higher than in USBy Jason Scott

- Last modified: January 9, 2014 at 10:39 AM

Pennsylvania ranked fifth among judicial foreclosure states with 14,000 completed foreclosures over the last year, according to November data released by California-based CoreLogic.

Florida topped the list with nearly 115,000 over the 12-month period that ended in November.

Other states in the top five included Michigan (54,000), California (42,000), Texas (40,000) and Georgia (36,000). Those four states are non-judicial foreclosure states.

Pennsylvania’s foreclosure inventory, or homes in some stage of foreclosure, was 2.4 percent through November, according to CoreLogic. That is higher than the national figure of 2.1 percent, but down from 2.9 percent a year ago.

There were 46,000 completed foreclosures in the U.S. in November. That was down from 64,000 in November 2012. Between 2000 and 2006, prior to the decline in the housing market in 2007, completed foreclosures were averaging 21,000 per month, according to CoreLogic.

Since the financial crisis began in September 2008, there have been about 4.7 million completed foreclosures across the country.

There are still about 812,000 homes nationally in some stage of foreclosure. And fewer than 2 million mortgages, or 5 percent, were considered to be in “serious delinquency.” That is defined as 90 days or more past due.

Pennsylvania has a serious delinquency rate of 5.5 percent.

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