Erie County Clerk
Press Releases

07/25/08

GREAT NEWS FOR ERIE COUNTY HOMEOWNERS: LOCAL FORECLOSURE RATE DRAMATICALLY LOWER THAN REST OF COUNTRY

Region Continues to Buck Dire National Trends

Erie County Clerk Kathy Hochul today reported that the number of Erie County foreclosures filed in the first half of 2008 (952) was almost exactly the same in the first half of 2007(953) and was in fact, 20% lower than in 2006. "During these days of bleak economic news from around the country, we can take some comfort in the fact that fewer of our residents are losing their homes than in other, more prosperous regions. Hochul pointed to other promising news from a recent report by Realtytrac.com which lists our region at 82 out of 100 of the largest metropolitans for foreclosure rates. According to data recently released, cities like Cleveland have 1 out of 57 households in foreclosure, or Fort Lauderdale, the figure is 1 out of 48, yet the WNY region has only 1 out of 541 households filing in foreclosure.

"The Erie County Clerk's Office is the pulse of the local economy since all real estate and automobile transactions are filed here, major purchases which paint a true picture of the financial pressures people are experiencing. Today's good news should be recognized and applauded," said Hochul.