NYC foreclosures down since Q2 but up annually

Rates fell compared to last quarter, but first-time foreclosures are up 24 percent annually
  • Scheduled auctions in New York City fell 22 percent quarter-over-quarter but rose 24 percent annually.
  • Queens held nearly half of all first-time foreclosures, with 242 affected homes in Q3.
  • Unlike the other four boroughs, Manhattan’s foreclosure rate rose quarter-over-quarter.
  • Staten Island was the only borough to post both annual and quarterly dips in first-time foreclosures

New York City foreclosures saw monthly improvement in the third quarter, a new report shows, revealing fewer first-time scheduled auctions compared to the second quarter selling season.