Foreclosures drop 38% in NYC in May

swe, TY! Interesting report.

Given that national data would seem to indicate that short sales are increasing I'd love to see a companion piece on the number of short sales for NYC so we would know the total number of distressed sales. Of course, in all likelihood, no one is compiling short sale data for NYC.

Another companion piece can be found in Crains as well with not so sunny stats.

Queens, Bklyn in top 5 in NY pre-foreclosure filings (in NY State)
http://www.crainsnewyork.com/article/20100610/REAL_ESTATE/100619988

"In terms of the areas in the state that received the highest percentage of pre-foreclosure filings per mortgage, the Bronx ranked second, with 3%, while Queens ranked fifth, with 2.81%."

Unfortunately, this is a new data series so we don't have any Y-o-Y comparisons.

How do you drop 38% from 0 foreclosures?