NEW YORK FORECLOSURE ACTIVITY DOWN 20 PERCENT IN DECEMBER

Yearly Foreclosure Activity Down 2 Percent From December 2006

 

IRVINE, Calif. – Jan. 25, 2008 – New York reported 4,619 foreclosure filings in December, a 20 percent decline from the previous month, and 2 percent below the level reported for December 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1 million properties from nearly 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.

 

“Foreclosure activity declined for the second straight month in New York, taking the state out of the nation’s top 10 foreclosure totals for December,” said James J. Saccacio, chief executive officer of RealtyTrac. “Although unemployment is up around the national average, a number of counties have experienced gains in home sales and prices recently, at least partially explaining the decreases in foreclosure totals.

 

The Empire State reported 1,600 fewer foreclosure filings for the month than 10th place Colorado. California led the nation once again reporting 53,292 foreclosure filings for December. The state’s foreclosure rate of one foreclosure filing for every 1,700 households ranked it 30th in the nation.

 

Top five counties account for greatest share of total monthly foreclosures

Foreclosure totals in five New York counties accounted for 59 percent of all foreclosure filings in the state for December. Queens County led the state with 771 foreclosure filings for the month. Kings County came in second with 582 foreclosure filings. Suffolk County had the third highest foreclosure total, reporting 562 foreclosure filings. Fourth highest total was in Erie County with 442 foreclosure filings, followed by Nassau County with the fifth highest foreclosure total, reporting 378 filings entering some stage of the foreclosure pipeline.

 

Schenectady County posts state’s top foreclosure rate in December

Schenectady County posted the highest foreclosure rate in the state for December, one foreclosure filing for every 409 households — 4.2 times the state average and 1.4 times the national average. Putnam County posted the second highest foreclosure rate, one foreclosure filing for every 774 households — 2.2 times the state average. Third highest foreclosure rate, one foreclosure filing for every 834 households — twice the state average — was reported by Orleans County. Richmond County had the fourth highest foreclosure rate, one foreclosure filing for every 888 households. Monroe County rounded out the state’s top five county foreclosure rates, one foreclosure filing for every 899 households.

 

State a minor contributor to nation’s total in December

Total filings in New York accounted for 2 percent of the 215,749 foreclosure filings reported nationwide in December. The national total represents a 7 percent increase from the previous month, and is 97 percent above the total reported for December 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 577 U.S. households for the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of foreclosure filings — both nationwide and by state — over the preceding month. RealtyTrac’s report includes properties in all three phases of foreclosure: Defaults — Notice of Default (NOD) and Lis Pendens (LIS); Auctions — Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank).

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

 

               New York Foreclosure Market by County – December 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

Households per Filing

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

46,182

54,280

18,488

47,945

48,854

215,749

577

n/a

n/a

New York

0

13

438

3281

887

4,619

1,700

0.34

n/a

 

 

 

 

 

 

 

 

 

 

Albany

0

1

20

2

3

26

5,104

0.11

0.33

Allegany

0

0

0

0

6

6

4,143

0.14

0.41

Bronx

0

0

36

228

10

274

1,833

0.31

0.93

Broome

0

0

11

1

7

19

4,680

0.12

0.36

Cattaraugus

0

1

2

0

5

8

5,034

0.11

0.34

Cayuga

0

0

0

0

2

2

17,945

0.03

0.09

Chautauqua

0

0

1

0

3

4

16,379

0.04

0.10

Chemung

0

0

0

0

0

0

n/a 

0.00

0.00

Chenango

0

0

0

1

0

1

24,109

0.02

0.07

Clinton

0

0

0

0

3

3

11,375

0.05

0.15

Columbia

0

0

4

0

1

5

6,275

0.09

0.27

Cortland

0

0

1

0

2

3

6,763

0.09

0.25

Delaware

0

0

1

0

0

1

29,456

0.02

0.06

Dutchess

0

0

4

10

18

32

3,460

0.17

0.49

Erie

0

2

77

7

356

442

955

0.60

1.78

Essex

0

0

0

0

0

0

n/a 

0.00

0.00

Franklin

0

0

0

0

3

3

8,105

0.07

0.21

Fulton

0

0

0

0

3

3

9,331

0.06

0.18

Genesee

0

0

1

14

3

18

1,358

0.43

1.25

Greene

0

1

0

0

0

1

27,646

0.02

0.06

Hamilton

0

0

0

0

0

0

n/a 

0.00

0.00

Herkimer

0

0

1

0

0

1

32,367

0.02

0.05

Jefferson

0

0

0

0

1

1

54,627

0.01

0.03

Kings

0

0

34

534

14

582

1,628

0.35

1.04

Lewis

0

0

0

0

0

0

n/a 

0.00

0.00

Livingston

0

0

0

0

0

0

n/a 

0.00

0.00

Madison

0

0

0

0

2

2

14,623

0.04

0.12

Monroe

0

1

14

265

67

347

899

0.64

1.89

Montgomery

0

1

1

0

0

2

11,283

0.05

0.15

Nassau

0

0

34

278

66

378

1,212

0.48

1.40

New York

0

0

4

62

1

67

12,236

0.05

0.14

Niagara

0

2

9

79

9

99

984

0.59

1.73

Oneida

0

0

2

1

16

19

5,430

0.11

0.31

Onondaga

0

0

24

3

11

38

5,283

0.11

0.32

Ontario

0

0

0

0

0

0

n/a 

0.00

0.00

Orange

0

1

12

12

28

53

2,480

0.23

0.69

Orleans

0

0

0

6

15

21

834

0.69

2.04

Oswego

0

0

1

16

10

27

1,990

0.29

0.85

Otsego

0

0

0

0

0

0

n/a 

0.00

0.00

Putnam

0

0

8

34

5

47

774

0.75

2.20

Queens

0

0

32

708

31

771

1,079

0.53

1.58

Rensselaer

0

0

11

13

2

26

2,614

0.22

0.65

Richmond

0

0

21

158

17

196

888

0.65

1.92

Rockland

0

0

2

38

1

41

2,359

0.24

0.72

Saint Lawrence

0

0

0

0

3

3

16,826

0.03

0.10

Saratoga

0

1

7

43

1

52

1,780

0.32

0.96

Schenectady

0

1

6

132

22

161

409

1.41

4.16

Schoharie

0

1

0

0

0

1

16,281

0.04

0.10

Schuyler

0

0

0

0

0

0

n/a 

0.00

0.00

Seneca

0

0

0

0

0

0

n/a 

0.00

0.00

Steuben

0

0

0

1

4

5

9,356

0.06

0.18

Suffolk

0

0

19

480

63

562

959

0.60

1.77

Sullivan

0

0

9

2

1

12

3,917

0.15

0.43

Tioga

0

0

1

0

3

4

5,417

0.11

0.31

Tompkins

0

0

0

0

1

1

40,164

0.01

0.04

Ulster

0

0

17

2

6

25

3,220

0.18

0.53

Warren

0

0

1

0

11

12

3,059

0.19

0.56

Washington

0

0

0

0

10

10

2,770

0.21

0.61

Wayne

0

0

1

0

4

5

7,942

0.07

0.21

Westchester

0

0

9

141

36

186

1,910

0.30

0.89

Wyoming

0

0

0

10

1

11

1,565

0.37

1.09

Yates

0

0

0

0

0

0

n/a

0.00

0.00

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastest growing private companies, RealtyTrac Inc. (www.realtytrac.com), is the leading online marketplace for foreclosure properties, providing all the resources that home seekers, investors and real estate agents need to locate, evaluate and buy properties below market value.

 

Founded in 1996, RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure, foreclosure, For Sale By Owner, resale and new homes, with more than 1.3 million properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts nearly 3 million unique visitors monthly and has been chosen to supply foreclosure data to MSN Real Estate, Yahoo! Real Estate and the Wall Street Journal’s Real Estate Journal. For more information, visit (www.realtytrac.com).

 

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved