Quarterly Housing Update: 2nd Quarter 2014
In the second quarter of 2014, total notices of foreclosure decreased in all boroughs, with a citywide drop of 17.1 percent, according to the NYU Furman Center’s 2014 Quarterly Housing Update: 2nd Quarter. Initial foreclosure filings fell nearly 35 percent citywide making this the second quarter in a row with year-over-year decreases in initial foreclosures. The report also found that residential property prices in New York City increased by 8 percent compared to the same quarter in 2013, with a 12.1 increase in Manhattan and an 11.2 increase in Brooklyn. See press release or read the full report.