Connecticut Foreclosure Activity Climbs in February

Statewide filings increase 3 percent from January

 

Foreclosure activity in Connecticut rose in February to 2,294 properties with foreclosure filings, up 3 percent from the previous month and 3 percent above the level reported in February 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“The level of foreclosure activity in Connecticut was up slightly in February, and is still above the level reported a year ago,” said James J. Saccacio, chief executive officer of RealtyTrac. “Despite the increase, joblessness in the Constitution State is well below the national average, helping to keep the number of foreclosures in check.”

 

The state ranked 27th nationally in total foreclosure activity. One in every 629 Connecticut housing units received a foreclosure filing in February, the 16th highest state foreclosure rate in the nation.

 

Windham County posts top foreclosure rate in the state for February

With one in every 445 housing units receiving a foreclosure filing — 1.4 times the state average — Windham County posted the state’s highest county foreclosure rate in February. New Haven County was second, with one in every 542 housing units receiving a foreclosure filing — 1.2 times the state average. Litchfield County came in third highest, with one in every 575 housing units receiving a foreclosure filing — 1.1 times the state average.

 

New Haven County led the state in total foreclosures for February

New Haven County led all counties in foreclosure activity, totaling 645 properties with foreclosure filings for February. Fairfield County was second, documenting 561 properties with foreclosure filings. Reporting 493 properties with foreclosure filings for the month, Hartford County ranked third highest. New London County came in fourth place, reporting 174 properties with foreclosure filings, while the fifth highest total was in Litchfield County, where 145 properties with foreclosure filings were reported for the month.

 

State a minor contributor to nation’s monthly foreclosure total

Connecticut accounted for 1 percent of the 308,524 properties with foreclosure filings reported nationwide in February. Total U.S. activity declined more than 2 percent from the previous month but was still 6 percent ahead of February 2009. One in every 418 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: Default Notice of Default (NOD) and Lis Pendens (LIS); Auction Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank). If more than one foreclosure document is received for a property during the month, only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

 

Connecticut Top Foreclosure Rates By County – February 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

46,207

60,001

84,641

38,992

78,683

308,524

418

n/a

n/a

Connecticut

0

1,538

0

68

688

2,294

629

0.66

n/a

 

 

 

 

 

 

 

 

 

 

Windham

0

69

0

0

37

106

445

0.94

1.41

New Haven

0

419

0

18

208

645

542

0.77

1.16

Litchfield

0

99

0

3

43

145

575

0.73

1.09

Fairfield

0

392

0

19

150

561

627

0.67

1.00

New London

0

112

0

7

55

174

673

0.62

0.94

 

 

Connecticut Top Foreclosure Totals by County – February 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Jan 10

% Chg Feb 09

 

 

 

 

 

 

 

 

 

 

United States

46,207

60,001

84,641

38,992

78,683

308,524

418

-2.28

6.22

Connecticut

0

1,538

0

68

688

2,294

629

3.43

3.33

 

 

 

 

 

 

 

 

 

 

New Haven

0

419

0

18

208

645

542

-0.31

5.05

Fairfield

0

392

0

19

150

561

627

-7.12

-23.88

Hartford

0

333

0

11

149

493

740

9.07

6.94

New London

0

112

0

7

55

174

673

10.83

39.20

Litchfield

0

99

0

3

43

145

575

17.89

39.42

 

 

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