Foreclosures in New York City rose 64% from December and 5% from a year ago, according to a report from PropertyShark.com scheduled to be released Monday. Foreclosures in Staten Island and Queens once again showed the sharpest increases, ballooning by 56% and 76%, respectively.
“I don’t think we have seen the worst yet,” said Bill Staniford, PropertyShark’s CEO. “People are still losing their jobs and credit is still not available. These issues will be problematic for the market.”
Among the five boroughs, Queens and Staten Island also continued to suffer the highest rate of foreclosures per household in January. In Queens, one in every 4,559 homes is scheduled for foreclosure, while in Staten Island one in every 2,845 homes are.
New York City 2010
