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Year over year foreclosure activity in Monroe County takes significant drop

Foreclosure activity during the first quarter of 2019 dropped significantly in Monroe County, mirroring the nationwide trend.

Total properties in the county with foreclosure filings during the first three months fell to 485, down 27.07 percent from the first quarter of 2018 and a decline of 17.80 percent from the fourth quarter of 2018, according to analysis from Attom Data Solutions.

The Rochester metropolitan statistical area ranked 92nd in foreclosure rate, with 1 in every 814 housing units in some stage of foreclosure. Albany/Schenectady/Troy was 74th (1 in 717), Buffalo/Cheektowaga was 110th (1 in 921) and Syracuse 115th (1 in 946).

Nationally, Atlantic City, N.J., had the highest foreclosure rate at 1 in 177 units, Lakeland/Winter Haven, Fla., was second (1 in 338) and Trenton, N.J., was third (1 in 345). The lowest rates were in Santa Cruz/Watsonville, Calif., (1 in 6,211), Burlington, Vt., (1 in 5,645) and Rochester, Minn., (1 in 5,075).

Total U.S. foreclosure activity was down 23 percent from the previous quarter and 15 percent from a year, reaching the lowest level since the first quarter of 2008. “Bank repossessions reached an all-time low, showing continuing signs of a strong housing market,” Todd Teta, chief product officer at Attom Data Solutions, said in a news release.

Foreclosure starts (91,397) were up 7 percent quarter over quarter but down 3 percent year over year, the 15th consecutive quarter with a year-over-year decrease, Attom reported.

When preparing its report, Attom says it collects data from more than 2,200 counties and incorporates three phases of foreclosure: default, including notice of default and Lis Pendens properties; auction, including notice of trustee sale and notice of foreclosure sale; and real estate owned (REO).

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