New Jersey Foreclosures in February 2009 Drop 24% from February 2008

New Jersey Foreclosure Report Issued by PropertyShark.com for February 2009 There were 601 new foreclosures scheduled for auction in New Jersey in February 2009, which is down 23% from January 2009 (783) and down 24% compared to February 2008 (793).

New Jersey Foreclosures in February 2009 Drop 24% from February 2008

Jersey City, NJ,
March 23, 2009
(PR.com)

PropertyShark.com, the premier real estate data site, today released its monthly report covering first-time residential foreclosures in New Jersey for February 2009.

To view individual New Jersey Foreclosure Listings, go to:
http://propertyshark.com/mason/Foreclosures/new_jersey

Key Report Findings:

* There were 601 new foreclosures scheduled for auction in New Jersey in February 2009, which is down 23% from January 2009 (783) and down 24% compared to February 2008 (793)

*Essex, Middlesex, Ocean, and Union counties had the most new foreclosures in February 2009. Essex County (79) had the highest number of new foreclosures scheduled in February 2009

*Union County had the highest rate of foreclosures per household with one in every 3,002 homes scheduled for auction in February 2009. Passaic County followed with one in every 3,151 homes scheduled for auction, and Atlantic County had one in every 3,167.

*Newark had the highest number of foreclosures, while Jackson Township had the highest foreclosure rate.

- Newark topped the list with 37 new foreclosures, followed by Paterson with 29, and there were 24 new foreclosures in both Elizabeth and Trenton.
- Jackson Township had the highest rate of foreclosures per household with one in every 1,090 homes scheduled for auction, followed by Plainfield with one in every 1,164.

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