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In September 2013, the foreclosure rate in the Pittsburgh Metropolitian Statistical Area fell to 4 percent, down 1.1 percentage points over the same period last year and slighthly above the benchmark average of 3.9 percent. The percent of seriously delinquent loans also dropped 1.2 percentage points year-over-year to 6.7 percent in September 2013, below the benchmark average of 7 percent.
MSA These figures are for U.S. Metropolitan Statistical Areas (MSA).
The foreclosure rate is the percent of all mortgages in the foreclosure inventory which include those in foreclosure and bankruptcy foreclosres prior to auction or trustee sale.
The serious delinquency rate is the percent of all mortgages currently in the foreclosure process plus the percent of mortgages that are more than 90 days delinquent.