October 2011 Is the Fifth Consecutive Month in Which the Number of Foreclosures in New York City Declines

We just released our monthly report that covers newly scheduled foreclosures for October 2011 in New York City. Here are the key takeaways:

  • The number of new foreclosure auctions was 6% lower in October 2011 compared to September 2011. If we compare October 2011 with the same month last year, the number is significantly lower, representing a 76% drop.
  • In the Bronx, the number of first-time foreclosures was 46% lower than in September 2011. In Brooklyn, the decrease was 27% and in Queens it was 11%. However, the number of first-time foreclosures in Manhattan increased by 22%.
  • The bulk of first-time foreclosures in New York City was represented by co-op foreclosures, which were 48% of the total number. However, they declined 43% compared to October 2010.

Browse current New York City foreclosures or foreclosure listings in New York State.