Given the fact that the number of scheduled foreclosure auctions has decreased significantly due to the ongoing bank moratorium, we thought it might be a good idea to take a look at the lis pendens trend. Apparently the number of pre-foreclosure filings is also trending downwards, reaching a 2-year low in October 2011.
There were 715 pre-foreclosure filings in NYC in October 2011. This number is down 20% from September 2011 and down 39% from October 2010. Compared to the previous month, lis pendens decreased 24% in Brooklyn, 20% in Queens, 17% in the Bronx and were down by 12% in Staten Island and down 7% in Manhattan.
With 262 properties in lis pendens in October 2011, Queens comprised over 37% of pre-foreclosure filings in New York City, followed closely by Brooklyn with 229 properties (32%).
Note: Data refers to unique properties by quarter that received at least one lis pendens filing. Properties included in the analysis were single-family homes, condo units and two-family dwellings.
Browse current individual NYC pre-foreclosures.