Monday, November 1, 2010

Foreclosures in New York up 46% in Q3 2010

Most Cities are up YoY

According to a Report from Realty Trac, year over year foreclosure activity was up in 65% of all U.S Metro Areas including New York.

A total of 20,504 foreclosure filings on NY area properties were received. This includes notices of default, scheduled auctions and bank repossessions.

Even though filings were up 46% Q3 2010 vs Q3 2009, there was an 8% decrease in Q3 from Q2 this year.

Daren Blomquist, a spokesman for Realty Trac said New York has "avoided the worst of the foreclosure problems and continues to do so" despite the year over year increase in foreclosure activity.

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