NYC Sees Rise in Foreclosure Filings
Despite all those signs that the market is recovering, foreclosure filings across New York City have not slowed down. Since the second quarter of 2012, foreclosure filings across New York City have increased 37 percent. Roughly half of the affected one- to four-family and condominium properties had already received a filing since 2005, indicating continued distress among those homeowners, rather than properties entering foreclosure for the first time. While each borough saw at least a 20 percent rise in foreclosure filings, Brooklyn and Staten Island saw the largest growth over the previous year.
Read the entire 2013 Quarterly Housing Update: 2nd Quarter.