Description of the Indicator
This indicator measures the number of foreclosures for the region and the Commonwealth.
Why is it important?
The number of foreclosures serves as an aid in assessing housing stability and potential financial distress among the region’s homeowners.
How is the region performing?
Lackawanna County has experienced an increase of 143 foreclosures from 2021 to 2022, but the numbers had been steadily decreasing from 2016 to 2021. Luzerne County also experienced an increase of foreclosures from 2021 to 2022 (264), but the numbers decreased from 2019 to 2021.
Wayne County foreclosures increased by 43 from 2021 to 2022. Other than a slight increase in 2018, foreclosures in Wayne County had been decreasing steadily. Pennsylvania saw an increase in foreclosures from 2021 to 2022 (9,114), preceded by a steady decrease from 2012 to 2021.