Description of the Indicator
This indicator measures the number of foreclosures in the region and the Commonwealth.
Why is it important?
The number of foreclosures helps assess housing stability and potential financial distress among the region’s homeowners.
How is the region performing?
Lackawanna County experienced an increase of 33 foreclosures from 2022 to 2023, but the numbers had been steadily decreasing from 2016 to 2021. Wayne County foreclosures increased by four from 2022 to 2023, and those numbers declined before 2021. Foreclosures throughout Pennsylvania followed a similar trend, including an increase of 1,883 from 2022 to 2023. Luzerne County also experienced an increase in foreclosures from 2022 to 2023 (41).