Property Grunt

Tuesday, June 02, 2009

Foreclosure reports for May

I got the following report from Propertyshark regarding May Foreclosures. The whole report will be released tomorrow. Here are the takeaways/

1) NYC: New scheduled foreclosure auctions in New York City (285) decreased 9% from May 2008 (313) and increased 8% from April 2009 (263).
• Queens (209) comprised over 73% of foreclosures in New York City.
• Manhattan had 8 new scheduled foreclosure auctions in May 2009, 43% less than in May 2008 (14).

2) Miami: In May 2009, new foreclosures in Miami declined 6% from April 2009 (993), but increased 5% over May 2008 (882).

3) LA: Los Angeles had 4,698 new trustee sales scheduled in May 2009, down 12% from May 2008 (5,311), but up 29% from April 2009 (3,628).

4) Seattle: There were 432 new trustee sales scheduled in Seattle for May 2009, up 168% from May 2008 (161) and 27% higher than April 2009 (341)

Here are some groovy charts.

I wonder what the cocktail conversations are like with the Propertyhshark posse. Once people find out what they do , I am sure it gets really redundant with the foreclosure questions.

"So. How are foreclosures numbers this month?"

"They numbers are the same as they were last month and the month before that and the month before that. They suck. Now get me a beer."