New York foreclosure improvement lagging behind national average

  • Twenty-nine states had foreclosure rates below the national average.
  • There were 38,000 completed foreclosures in May 2016, according to CoreLogic – up 5.5 percent from April 2016, but down 6.9 percent year-over-year.
  • New York City's foreclosure statistics were similar to the rest of the state's, with a foreclosure inventory of 3 percent and a delinquency rate of 5.5 percent in May.

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Although still double the long-term average of 0.5 percent, the national foreclosure rate continued to fall to 1 percent in May, with many states seeing better outlooks than the national average in CoreLogic’s May 2016 National Foreclosure Report.