In Q1 2024, amidst a persistent housing crunch and soaring living costs, NYC’s foreclosure market showed resilience with a modest 14% annual increase and an 8% drop from the previous quarter.
The Bronx foreclosure market had its busiest period in 4 years, with its 43 cases representing a 72% increase year-over-year, the sharpest in NYC. Contrary to citywide trends, the borough also posts a 139% upsurge quarter-over-quarter.
Other takeaways:
- Zip 10451 was the borough’s foreclosure epicenter with 29 filings, accounting for 67% of Bronx’s Q1 foreclosures;
- NYC foreclosures tick up 14% Y-o-Y, registering 424 cases.
For more insights and market-specific data, check out our full report here.
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