Repo homes and foreclosed property numbers increased in Brooklyn in February 2011. This was despite a nationwide decline in foreclosures for the same period.
Sheriff sale houses and properties up for foreclosure auction declined in the whole New York City last month. Year-over-year decline was pegged at almost 60%.
Buyers who are looking to find a repo home in New York should do so with caution. It would be wise to check the area you are willing to live in to make the buy worth the trouble.