Miranda Tsotsoria
Sales Associate
Foreclosure filings in Pennsylvania fell by 4.39 percent from September to October, while New Jersey saw a 10.64 percent increase, according to data released Thursday by foreclosure data tracker RealtyTrac.
Foreclosures were up 5 percent nationally month to month.
Pennsylvania’s foreclosure rate of one filing per every 1,362 homes was well below the national average of 1 for every 452 homes and has the state ranked No. 32 out of 50. But foreclosures were up 26 percent compared to October 2007.
New Jersey was ranked eighth nationally with a foreclosure filing rate of one out of every 410 homes, a nearly 75 percent increase from October 2007.
Nationally, foreclosure filings — default notices, auction sale notices and bank repossessions — were reported on 279,561 U.S. properties during the month, a 25 percent increase from October 2007.
Nevada posted the nation’s highest state foreclosure rate for the 22nd consecutive month in October, with one in every 74 housing units receiving a foreclosure filing during the month — more than six times the national average. That represented an increase of 11 percent from the previous month and nearly 119 percent from October 2007.
With one in every 149 housing units receiving a foreclosure filing in October, Arizona registered the second highest state foreclosure rate, which represented an increase of nearly 35 percent from the previous month and was up 176 percent from October 2007.
One in every 157 Florida housing units received a foreclosure filing in October, the nation’s third highest state foreclosure rate, which was an increase of 13 percent from the previous month and was up nearly 80 percent from October 2007.
Other states with foreclosure rates ranking among the top 10 were California, Colorado, Georgia, Michigan, New Jersey, Illinois and Ohio.
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