The NYC foreclosure market has been slow to recover post-moratorium: Year-over-year, NYC foreclosures have stagnated, showing only a minimal 1% increase in Q2 2024 — just 5 more than during the same period last year. As of Q2 2024, foreclosure levels are only at 53% of those in Q1 2020, the last quarter before CoViD-19 shutdowns.
Meanwhile, despite a 74% year-over-year increase (or 14 cases), the Bronx remains the least active foreclosure market in NYC. It accounted for just 9% of the city’s 366 first-time foreclosures in Q2 2024, with 33 cases.
Key Takeaways:
- The highest concentration of Bronx foreclosures — a total of 6 cases —was in zip code 10462, covering parts of Bronxdale, Parkchester and Van Nest
- Although the Bronx logged an 82% rise in pre-foreclosures Q-o-Q, that translated to a minor increase from 11 to 20 first-time filings, remaining the least active pre-foreclosure market in the city
more insights and market-specific data, check out our full report here.