(Courtesy of PropertyShark.com)

(Courtesy of PropertyShark.com)

After the spike in the previous month when the number of NYC first-time foreclosures reached a 6-month high, January 2012 (89) saw them decrease once again: down 15 percent from December 2011 (105) and down 16 percent from January 2011 (106).

In contrast to the overall decrease in New York City, the number of co-op foreclosures continues to grow for the fourth consecutive month, comprising over 60 percent of the total number of first-time foreclosures.

In January 2012 NYC (all boroughs) had 688 properties with a lis pendens filed against them. This is 29 percent less than in January 2011 (971), and 5 percent less than in December 2011 (725).

Adriana Limbasan is a writer for PropertyShark.com. Property Shark.com is a property search site with market data for New York City and New York state. For the original article, click here.