Printer Friendly

NYC foreclosures decrease in February.

Foreclosure auctions by borough (chart courtesy of

Foreclosures in all five boroughs of New York City decreased by 3 percent between January and February of this year, to 269 from 278 new foreclosures, according to the February foreclosure report from Compared to February 2008, foreclosures have dropped 10 percent. Single- and two-family homes saw the highest number of foreclosure auctions, while condos and co-ops saw the lowest.

Foreclosure statistics in the boroughs varied widely year-over-year. Brooklyn foreclosures dropped by 77 percent between February 2008 and February 2009, to 12 foreclosures from 53. recorded 40 foreclosures in Staten Island this February versus 49 in February 2008, but the borough still had one of the highest rates of foreclosures per household, with one in every 4,125 homes scheduled for auction in February 2009. Queens, where foreclosures increased to 183 last month from 169 in February 2008, has a foreclosure rate of one in every 4,235 homes scheduled for auction. The number of foreclosures remained static year-over year, with 25 new foreclosures this February and last February. Manhattan had four foreclosures in February 2008 compared to nine last month, but the rate remained low, with one in every 81,333 homes scheduled for auction.

Of the 15 New York City zip codes with the most foreclosure auctions scheduled in February of this year, 12 were in Queens, two in Staten Island and one in the Bronx. Queens and Staten Island have consistently led the city in foreclosures. TRD
COPYRIGHT 2009 Korangy Publishing, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2009 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:The Real Deal
Date:Mar 4, 2009
Previous Article:Wear your home hunt on your sleeve.
Next Article:Justo files for personal bankruptcy.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters