New York Foreclosure Rates For August

9.30.08 - Back in February of this year we reported that Syracuse had the sixth lowest foreclosure rate among the top 100 U.S. cities based on statistics from RealtyTrac. To this date, the Onondaga County housing market has remained healthy compaired to many other housing markets in New York State and the rest of the Country.

In July of 2008 New York State experienced a 12% increase in foreclosure rates according to RealtyTrac Staff. However, the State is a minor contributor to nation’s total for July.

New York accounted for only 2 percent of the 272,171 properties with foreclosure filings reported nationwide in July. The national total represents an increase of almost 8 percent from the previous month and is 55 percent ahead of the total reported for July 2007. One in every 464 U.S. households received a foreclosure filing during the month.

Below are graphs depicting new foreclosures in August of 2008. You will notice that the top five counties are responsible for bulk of state’s foreclosure activity and that the Central New York counties are a very small percentage of the states foreclosures.