Land foreclosures for sale and residential foreclosures are still major concerns in Pennsylvania. The first six months of 2010 saw certain counties in the state still getting hit by the housing market crisis, with York coming in as the top county in terms of foreclosure activities for the six-month period.
Foreclosed homes for sale in Philadelphia, PA remain high, with the city being ranked second among Pennsylvania cities and counties with the highest foreclosure filings during the first half of 2010. Philadelphia came second to York, with Berks County making it to the third spot among the 67 counties in the state.
Pennsylvania foreclosed homes and properties in varying stages of foreclosure produced a ratio of one for every 199 household. This includes all stages, from homes receiving their first filing notice to houses in the final stage of getting foreclosed. The state's housing market is actually doing poorly when compared with nationwide statistics, where one U.S. household for every 78 is foreclosed or facing the possibility of getting foreclosed during the January-June 2010 period.
In Berks County, residential foreclosures dominate the six-month period statistics, although a handful of land foreclosures for sale are also represented. Over 800 homes were foreclosed or facing foreclosure in Berks during the first half of the current year. Analysts reveal that the numbers are setting the current year on the road to being the worst period for the county in terms of foreclosures.
People looking to purchase foreclosed homes will have a lot of choices should they decide to make a buy in Berks County. Total foreclosures for the first half represents an almost 20% increase compared with the first half of 2009. The number covers all kinds of foreclosures, including commercial, land and residential properties.
Local housing market observers have reported that the state suffered greatly from the housing market crisis and from the recession, as evident in the rise of foreclosures filings between 2007 and 2010. According to local statistics, Berks County's foreclosure filings rose by around 70% when the first six months of 2010 is compared with the first half of 2007. This significant rise is true for all types, from residential properties to land foreclosures for sale to commercial buildings and business premises.
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