Following up on April's slowdown in year-over-year foreclosures across the boroughs, the gang at PropertyShark reports that May saw more of the same, with new filings dipping 9% from May 2008. However, the 285 foreclosures were an 8% increase from April, so the results were mixed. Queens comprised over 73% of the total foreclosures in New York City, and for the first time the borough swept all 15 top zip codes for new foreclosures (congrats?). Manhattan had just eight new foreclosure auctions scheduled, down 43% from May 2008, and it only seems like there's a big surge because the island is a magnet for troubles from all around. PropShark's May report isn't online until tomorrow, so you can download it via the link below.
· May 2009 Foreclosure Report [PropertyShark; PDF]
· April Foreclosures Report: Everyone Remains Calm [Curbed]