The Real Deal New York

Foreclosures increase in May, decrease year-over-year

June 02, 2009 01:33PM

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alternate textNumber of foreclosures by borough (Source: PropertyShark.com)

New York City saw a slight increase in foreclosures from April to May but a decrease between May 2008 and May of this year, according to a monthly foreclosure report from PropertyShark.com. There were 285 new foreclosures across the five boroughs in May, an 8 percent rise from April but a 9 percent drop from May 2008 (see below for full report). Queens continued to have the highest number of new foreclosures, with 209. Staten Island saw 30 new foreclosures, a 36 percent decrease month-over-month and year-over-year. There was a 26 percent drop in new foreclosures in the Bronx from April to May, to 17. Foreclosures in Brooklyn increased 62 percent from April but fell 62 percent from May 2008. Manhattan saw eight new foreclosures in May, a 43 percent drop year-over-year. The 15 zip codes with the highest numbers of foreclosure auctions were in Queens. TRD  

May 09 Foreclosure Report by Property Shark

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