Foreclosure filings in New York increase 25 percent

The number of foreclosure filings in New York was up 25 percent for the 12 months ended May 31, even as the number of filings dropped slightly during the last two months, according to RealtyTrac Inc.

(Biz Journals) -- New York bucked the national trend in May, recording a 7 percent drop in filings from April. Nationally, foreclosure filings increased by 7 percent during that period, said Irvine, Calif.-based RealtyTrac, which compiles and sells real estate data. Nationwide, foreclosure filings jumped 48 percent from last year, making May the 29th consecutive month for a year-over-year increase. New York's foreclosure rate in May stood at one filing for every 1,500 households, down from one for every 1,387 households in April. The nationwide average is one for every 483 households.