Subscribe to This Feed2010 Lis Pendens Filings Fall by 26%
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The 2010 full year numbers for foreclosure filings (Lis Pendens) are in, showing a 26% decrease in filings as compared to 2009.
The table and chart below show the figures for the past 6 years. 2010 was the first year in the past 6 years in which the Lis Pendens Filings decreased, and the first year that there was a downward trend in average monthly filings. | |
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As we explained last year, the seemingly large jump between 2008 and 2009 is not a true indication of the year to year increase. This was due to a 4 month period at the end of 2008 in which there were very few new Lis Pendens filings, due to a new state law. |
As can be seen from the individual monthly statistical charts below, the monthly rate of Lis Pendens filings has been increasing each year since 2005. In 2005 the average number of filings increased by 8 per month. This grew to 24 per month in 2006 and 2007, 56 per month in 2008 and reached its peak of 65 per month in 2009. In 2010, the numbers began to decrease where the average rate of decrease per month was 38 filings. There is no reason to believe this trend will continue, as January of 2011 appears to be tracking closely with the January numbers of the past 3 years. |
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For complete information on Long Island Sales and Lis Pendens, visit The Long Island Real Estate Report Stats/Trends area. |
Thank you for the stats- along with the realistic view regarding upcoming filings. In a confusing market, this site is a wonderful go-to.