Queens Foreclosures Skyrocket In First Quarter Of 2019

Queens Foreclosures Skyrocket In First Three Months of 2019


Queens Foreclosures Skyrocket
Queens Foreclosures Skyrocket! should be the headline of a recent report by Property Shark. Property Shark found that Queens is seeing a spike in foreclosures. Southeast Queens neighborhoods seem to be the hardest hit.
PropertyShark recently released their Residential Foreclosure Report for Q1 2019. New York City saw a 5 percent decrease in first-time foreclosures. This followed the downward trend from the end of 2018.
Yet, Queens saw the highest number of first-time foreclosures compared to the rest of the boroughs with 315 homes on the auction block.
Queens foreclosure rates rose 25 percent compared to the fourth quarter of 2018. However, year-over-year foreclosure rates only rose 4 percent overall.

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