Loading ...The stats include only first-time foreclosures to avoid over-reporting the number of distressed properties in the city as auctions are frequently postponed and rescheduled. We report separately on lis pendens filings, legal notices which mark the beginning of the foreclosure process.
During 2017, we released quarterly reports that indicated a sharp increase in the number of properties headed for the auction block, particularly in Brooklyn and the Bronx. The fourth quarter of 2017 confirmed this trend, so the yearly stats reveal that the number of cases is at its highest since 2009, with year-over-year increases in all boroughs except Manhattan. Keep reading for detailed stats on each borough and in-depth data going back all the way to 2007 for a clear picture on the evolution of foreclosure activity in NYC.
Chart below shows the foreclosures climbed as the US Dollar climbed after 2014.
https://www.propertyshark.com/Real-Estate-Reports/NYC-Foreclosure-Report