Staten Island saw a 22 percent drop off in foreclosure filings last month compared to a month earlier, according to national real estate foreclosure tracking company RealtyTrac’s monthly foreclosure market report released today (see report below). But its 184 filings — one in every 974 households — represented a 5.75 percent increase over February 2009 and that rate gave it a second-place ranking among all New York counties.
Overall, the city saw 1,401 foreclosure filings — default notices, scheduled auctions and bank repossessions — last month, down 23 percent from January and 5.5 percent from a year ago.
Still, foreclosures in the city’s hardest-hit boroughs — Staten Island, Queens and Brooklyn — remain at remarkably high levels, with unemployment showing
few signs of abating and more risky loans still yet to mature.
“It’s too early to call,” whether the declines in foreclosures indicate
that the problem has peaked in the city, said Daren Blomquist, a
spokesperson for RealtyTrac.
Of the city’s 1,401 foreclosure filings, 495 were in Brooklyn, a nearly 29 percent decline over last month, but a 5.77 percent uptick over the same period last year, the report says. In Queens, 486 filings represented a 21 percent month-over-month dip and a 12.6 percent decrease from the year-ago period. Bronx foreclosures were similarly down 19.5 percent in February, to 173 filings, a 7 percent year-over-year decline. Manhattan, which has been barely touched by the country’s home foreclosure crisis, saw only 63 filings in February.