Industry NewsMarkets & Economy

Foreclosures rising in Miami, Seattle

Real estate brief

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

While new foreclosure auctions in Los Angeles and New York City fell considerably between September and October, conditions appear to be worsening in Miami and Seattle, real estate data company reported Tuesday. Miami saw a 93 percent jump in new foreclosure auctions between September and October, and Seattle experienced a 14 percent increase. Compared to a year ago, Miami foreclosures are up 35 percent and Seattle foreclosures up 108 percent. Meanwhile, new foreclosures in Los Angeles plummeted 51 percent from September, and New York City foreclosures dropped 15 percent. Los Angeles foreclosures, however, are still 11 percent higher than a year ago, and New York City foreclosures are up 50 percent, according to the report. In New York City, new foreclosure auctions between September and October decreased the most in the Bronx (down 54 percent), followed by Staten Island (down 25 percent), Brooklyn (down 16 percent) and Queens (down 9 percent). Auctions...