DataMarkets & Economy

New York City foreclosure activity rising monthly, report says

RealtyTrac's data finds national foreclosure rates have fallen for the eighth consecutive month
  • RealtyTrac reported foreclosure activity is below 2006 levels throughout the nation, but 18 states are still posting gains.
  • Foreclosure rate in New York City increased 104 percent month-over-month in May 2016.
  • The most notable monthly dips in foreclosure rates in the NYC metro were in Hudson and Middlesex counties.

A sure-fire sign of an improving real estate market is the fall of foreclosure activity, and luckily those trends are down throughout the nation for the eighth consecutive month, according to RealtyTrac's newly released data. Monitoring foreclosure activity throughout the nation down to a city level, the data showed that foreclosure activity is below 2006 average monthly levels. However, not all states are measuring equally. RealtyTrac reported 18 states and the District of Columbia posted a year-over-year increase in foreclosures. The highest foreclosure rates were seen in Delaware, Florida, Nevada, Maryland and New Jersey. A few metro areas witnessed gains in foreclosure activity as well, including Rockford, Illinois; Trenton, New Jersey; Tuscon, Arizona and St. Petersburg, Florida. New York was one of the 18 states that saw an annual rise in foreclosures. Taking a closer look at New York City, specifically, there were 51 properties that were either fully real ...