Wednesday, August 29, 2012

NY, NJ, Still Among Leading States in Foreclosure Inventory

NY's  Real Deal blog reports that there were a recorded 58,000 completed foreclosures across America in July 2012 — down nearly 7 percent month-over-month and 19 percent year-over-year, according to data released today by CoreLogic. However, both New York and New Jersey ranked among the five states with the highest foreclosure inventory. More specifically, New Jersey ticked in at 5.7 percent — making it take the second-highest foreclosure inventory — and New York at 5.2 percent, right behind New Jersey. 

Speculation about the reason for the growing number of foreclosed properties in New York centered around a major backlog of distressed properties still making their way through the court system.

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