What do Pennsylvania's Northampton County and California's Marin County have in common? They've both seen a sharp increase in foreclosures. In Northampton County, an average of 46 properties was listed monthly for sheriff sale in 2005. That figure remained steady last year. But this year, where sheriff sales are already scheduled through April, 57 properties per month are listed. That's a twenty-three per cent increase over the last two years.
Reason? Damned if I know. Obviously, people aren't making enough money to pay for increasingly expensive homes. I don't have access to monthly sheriff sales in Lehigh County. But folks are struggling there, too. RealtyTrac lists 675 properties in various forms of foreclosure in Lehigh County, compared to a mere 359 in Northampton County.