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First-time foreclosures dropped in Queens, but southeast neighborhoods still had most in borough: report – QNS.com

First-time foreclosures dropped in Queens, but southeast neighborhoods still had most in borough: report

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A recent report found that the number of foreclosures in Queens are slowly decreasing throughout the second quarter of 2019.

PropertyShark recently released their their Residential Foreclosure Report for Q2 2019. Overall, New York City as a whole saw a 4 percent decrease in first-time foreclosures year-over-year.

Queens followed suit with the rest of the city, with a 9 percent decrease in first-time foreclosures. Despite the decrease overall, Queens had the highest number of first-time foreclosures in the city with 324 recorded cases.

Compared to the first quarter of 2019, foreclosure rates in Queens only rose 3 percent.

The highest number of foreclosed properties in Queens this quarter were listed in the 11434 ZIP code (covering parts of South Jamaica, St. Albans and Springfield Gardens), the 11433 ZIP code (Jamaica) and the 11412 ZIP code (St. Albans) with 21 foreclosures each. Following close behind was the 11413 ZIP code (Laurelton, Springfield Gardens) with 20 foreclosures.

While the number of pre-foreclosures spiked 13 percent year-over-year and 31 percent quarter-to-quarter in New York City overall, Queens only saw a 4 percent increase year-over-year and 17 percent quarter-to-quarter with 1,050 cases registered.

To read the full report, visit www.propertyshark.com/Real-Estate-Reports/NYC-Foreclosure-Report.

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