NYC Foreclosures Down Again, With Hint of Trouble

First-time foreclosures continued to fall across New York City as a whole during the first quarter of 2012—202 foreclosures was an 18% drop year over year and a 6% dip from the fourth quarter of 2011. Pre-foreclosures were up 13% sequentially, however, signaling a possible end to a two-year trend in declining cases. Queens remained a trouble spot for homeowners, accounting for 39% of all first-time foreclosure cases in Q1. Foreclosures were down 26% year over year in Brooklyn, but the borough was the only one to see a sequential uptick (5%) in the number of cases counted in the PropertyShark report.