Pa. foreclosure filings slid 1.5 percent from April to May

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June 13, 2008

Anonymous The Tribune-Democrat Fri Jun 13, 2008, 10:39 PM EDT

HARRISBURG — Pennsylvania’s home foreclosure rate showed slight improvement in May, but it remains well above last year’s rate.

Foreclosure listing company RealtyTrac said Friday that a total of 3,216 Pennsylvania homes received at least one foreclosure-related filing in May.

RealtyTrac said that was a drop of 1.5 percent from April, but an increase of 11 percent above May 2007.

Pennsylvania’s housing market remains relatively buffered from the mortgage crisis, with a foreclosure rate that RealtyTrac said is well below the national average.

Nationally, foreclosures rose 7 percent from April to May and 48 percent from May 2007.

Nevada, California, Florida, Michigan and Arizona posted the highest foreclosure rates in May.

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