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Foreclosure Rates Dropping in Lancaster Co. , PA !

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Real Estate Agent with KW Elite Keller Williams 1280 Plaza Blvd. Lancaster, PA 17601 AB067316

Finally getting back to normal! 

Original content by Michael J. Perry

Foreclosure Rate Drops to New Post-Crisis Low [INFOGRAPHIC]

Foreclosure Rate Drops to New Post-Crisis Low [INFOGRAPHIC] | MyKCM

Some Highlights:

  • According to CoreLogic, the national foreclosure rate dropped to 1.1% of all homes with a mortgage. This is the lowest percentage experienced since October 2007.
  • April marked the 54th consecutive month of year-over-year declines in foreclosure inventory.
  • Only 3% of homes in the United States are in serious delinquency. More and more homeowners are escaping negative equity as prices rise !
 

 

Michael J. Perry

KELLER WILLIAMS of Central PA

 

930 Red Rose Ct.#102,     Lancaster, PA 17601

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Longtime West Lampeter resident and Lancaster County Realtor!

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Posted by

Don Hess

Keller Williams of Central PA East, Lancaster Office

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Comments (4)

Kartik Subramaniam
Adhi Schools, LLC - Rancho Cucamonga, CA
Market Analysis--Educational Content, Adhi Schools

Don Hess very interesting piece. I've been keeping an eye on these numbers too. Southern California also has some of our lowest foreclosure rates of all time. I see that the CEO of CoreLogic expects this trend to continue into 2017. 

Is the market looking stable in your area? I know these low foreclosure stats are great, but I'm also hearing more murmurs of concern about how sustainable this growth is lately. Any thoughts?

Jun 20, 2016 02:40 AM
Don Hess
KW Elite Keller Williams 1280 Plaza Blvd. Lancaster, PA 17601 - Quarryville, PA

Hard to say Cody. Recently inventory is picking up slightly, and I'm personally seeing more first time home buyers coming into the market. At the moment it's a sellers market here. I'm getting multiple offers and that's great when I'm on the seller side. My personal opinion is that the future looks good, but time will tell.

Jun 20, 2016 03:02 AM
Jim Crawford
Long & Foster - Fredericksburg, VA
Jim Crawford Broker Associate Fredericksburg VA

Don Hess Thank you for taking the time to share this.  I find this type of information very informative and helpful for your intended audience.  I hope you have a wonderful week ahead.  Best wishes!

Jun 20, 2016 10:32 PM
Don Hess
KW Elite Keller Williams 1280 Plaza Blvd. Lancaster, PA 17601 - Quarryville, PA

Thanks for stopping by Jim, This type of information really pleases me, I was getting very tired of dealing with short sales on both sides. You have a great week too.

Jun 21, 2016 12:30 AM