Connecticut Foreclosure Activity Decreases 10 Percent in 2009

Statewide Filings up 66 percent from 2007 and 15 percent from November

 

Connecticut ended 2009 tallying 19,679 properties with foreclosure filings, a 10 percent decrease from the total reported for 2008 but still 66 percent higher than the level reported for all of 2007, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

In December alone, the state reported 2,425 properties with foreclosure filings, a 15 percent increase over the previous month, and up 18 percent from December 2008. The state’s foreclosure rate — one in every 593 housing units received a foreclosure filing — was 19th highest in the nation for the month.

 

“Foreclosure activity heated up in Connecticut in December, although the state’s total number of filings for 2009 remained well below the level reported for 2008,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment within the state remains below the national average, but continues to rise from month to month, leaving many homeowners uneasy.”

 

With one in every 73 housing units receiving a foreclosure filing, Connecticut’s foreclosure rate ranked 21st highest in the nation for the year.

 

Windham County posted state’s highest foreclosure rate in 2009

With one in every 59 housing units receiving a foreclosure filing in 2009, Windham County posted the highest county foreclosure rate in the state for the year. New Haven County followed in second, reporting one in every 62 housing units receiving a foreclosure filing. Fairfield County came in third highest, reporting one in every 65 housing units receiving a foreclosure filing. Litchfield County was fourth highest with one in every 78 housing units receiving a foreclosure filing. Fifth highest rate was in Hartford County, where one in every 85 housing units received a foreclosure filing during the year.

 

New Haven County led state in foreclosure activity for 2009

New Haven County had the highest county foreclosure activity in the state for 2009, reporting 5,633 properties with foreclosure filings. Fairfield County came in second, documenting 5,361 properties with foreclosure filings. Reporting 4,300 properties with foreclosure filings for the year, Hartford County had the third highest total in the state. New London County was fourth highest, reporting 1,326 properties with foreclosure filings, followed by Litchfield County in fifth place, tallying 1,062 properties with foreclosure filings for all of 2009.

 

State a minor contributor to nation’s foreclosure total in 2009

Connecticut accounted for 1 percent of the 2,824,674 properties with foreclosure filings reported nationwide in 2009. Total U.S. activity increased more than 21 percent over the level reported for all of 2008. One in every 45 U.S. housing units received a foreclosure filing during the year.

 

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: Year-End 2009

 

County

Total Properties with Filings

% Housing Units

1/Every X HU

%Chg

from 2008

% Chg

from 2007

 

 

 

 

 

 

United States

2,824,674

2.21

45

21.21

119.67

Connecticut

19,679

1.37

73

-10.24

65.93

 

 

 

 

 

 

Windham

795

1.69

59

-6.03

76.27

New Haven

5,633

1.61

62

-10.79

48.59

Fairfield

5,361

1.53

65

-8.73

119.71

Litchfield

1,062

1.28

78

-1.21

69.11

Hartford

4,300

1.18

85

-14.07

49.20

 

 

Connecticut Top Foreclosure Totals by County: Year-End 2009

 

County

Total Properties with Filings

% Housing Units

1/Every X HU

% Chg  

from 2008

% Chg

from 2007

 

 

 

 

 

 

United States

2,824,674

2.21

45

21.21

119.67

Connecticut

19,679

1.37

73

-10.24

65.93

 

 

 

 

 

 

New Haven

5,633

1.61

62

-10.79

48.59

Fairfield

5,361

1.53

65

-8.73

119.71

Hartford

4,300

1.18

85

-14.07

49.20

New London

1,326

1.14

88

-12.24

55.63

Litchfield

1,062

1.28

78

-1.21

69.11

 

 

Connecticut Top Foreclosure Rates By County – December 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl Avg

/State Avg

 

 

 

 

 

 

 

 

 

 

United States

45,074

71,911

105,527

37,825

92,182

349,519

366

n/a

n/a

Connecticut

0

1,837

0

70

518

2,425

593

0.62

n/a

 

 

 

 

 

 

 

 

 

 

Windham

0

85

0

0

21

106

443

0.83

1.34

New Haven

0

505

0

14

197

716

488

0.75

1.22

Litchfield

0

121

0

1

35

157

530

0.69

1.12

Fairfield

0

522

0

18

116

656

534

0.69

1.11

New London

0

134

0

6

28

168

694

0.53

0.85

 

 

Connecticut Top Foreclosure Totals by County – December 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Nov 09

% Chg Dec 08

 

 

 

 

 

 

 

 

 

 

United States

45,074

71,911

105,527

37,825

92,182

349,519

366

13.99

15.20

Connecticut

0

1,837

0

70

518

2,425

593

14.71

17.72

 

 

 

 

 

 

 

 

 

 

New Haven

0

505

0

14

197

716

488

24.74

19.73

Fairfield

0

522

0

18

116

656

534

14.69

10.62

Hartford

0

364

0

19

100

483

753

0.63

1.90

New London

0

134

0

6

28

168

694

17.48

44.83

Litchfield

0

121

0

1

35

157

530

42.73

49.52

 

 

 

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