New Jersey Foreclosures
Here are the key takeaways from the Q1 2009 New Jersey Foreclosure report. (Click here to see New Jersey Foreclosure Listings)
Key Report Findings
- Foreclosure auctions scheduled in New Jersey in Q1 2009 (2,293) were down 10% compared to Q1 2008 (2,560), but they have gone up 13% since Q4 2008 (2,030).
- Essex County (296) had the most New Jersey foreclosures scheduled in Q1 2009 – Essex (296), Passaic (217), Ocean (217), and Union (215) counties had the most new foreclosures in New Jersey in Q1 2009.
- Of New Jersey cities, Newark had the most new foreclosures; Dover had the highest rate of new foreclosures – There were 133 new foreclosures in Newark, followed by Paterson with 120, and Elizabeth with 71. Dover had a rate of one home scheduled for foreclosure auction for every 170 homes, followed by Paterson with one in every 373.
- Passaic County had the highest rate of foreclosures per household with one in every 755 homes scheduled for auction in Q1 2009 – Union County followed with one in every 866 homes scheduled for auction, and Ocean County had one foreclosure for every 924 homes.