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Queens Chronicle

Mixed foreclosure numbers in Queens

First-time filings down from 2018

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Posted: Thursday, July 11, 2019 10:30 am

First-time house foreclosure numbers in Queens offered mixed results according to a report released this week.

PropertyShark, a website that covers residential and commercial real estate in major United States markets, reports that the borough recorded 324 foreclosures in the second quarter of 2019, a period covering April, May and June.

The report, written by Robert Demeter, states that the number is down 9 percent from the 356 reported in the borough for the second quarter of 2019. It also is more than double the citywide decrease of 4 percent for the same time frame.

But it also represents a slight uptick in Queens from the first quarter of this year, and marks the second straight period when there has been an increase in the borough.

“Queens had the largest number of first-time foreclosure cases among the 5 boroughs,” the report states.

The 324 cases are a 3 percent increase over the numbers from January through March.

And the 11434 ZIP code, which includes some or all of Jamaica, South Jamaica, Rochdale and St. Albans, had the most new foreclosures in the borough this spring with 21.

Brooklyn, with a 7 percent increase, and Staten Island, coming in at 9 percent, were the only two boroughs to see increases over a year ago.

Cases in the Bronx plummeted 24 percent year to date, while Manhattan stayed flat at 26 new cases in the quarter.

The 847 cases in the city combined from April through June also represented a drop of 3 percent from the first quarter of this year.

The full report can be found online at propertyshark.com/Real-Estate-Reports/NYC-Foreclosure-Report.

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