CONNECTICUT FORECLOSURE ACTIVITY DECREASES 37 PERCENT IN SEPTEMBER

Total Down Nearly 1 Percent From September 2006

 

IRVINE, Calif. – Oct. 26, 2007 – Connecticut reported 1,375 foreclosure filings in September, a 37 percent decreased from the previous month and a nearly 1 percent decline from September 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1 million properties from nearly 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.

 

“Foreclosure activity was down in Connecticut in September and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment in the state is below the national average. Additionally, home sales have slowed down, although at half the national average while home prices continue to rise slightly. These factors are all contributing the slight decline in foreclosure activity we are now seeing.”

 

Connecticut ranked 24th in the country in total foreclosures for the month. The state’s foreclosure rate of one foreclosure filing for every 1,035 households ranked it 20th among the 50 states.

 

Four counties account for bulk of state activity

Total foreclosure filings in four Connecticut counties accounted for 85 percent of the state’s activity in September. New Haven County led the state, reporting 438 foreclosure filings for the month. Fairfield County was second, reporting 314 filings. Hartford County reported the third highest county total with 298 filings. Fourth highest total was reported in New London County with 117 filings entering some stage of the foreclosure pipeline.

 

Highest foreclosure rate reported in New Haven County

With a rate of one foreclosure filing for every 792 households — 1.3 times the state average — New Haven County reported the highest county foreclosure rate in the state for September. Second was New London County with a rate of one foreclosure filing for every 981 households – 1.1 times the state average. Litchfield County posted the third highest foreclosure rate, one foreclosure filing for every 1,017 households — on par with the state average.

 

State a minor contributor to nation’s monthly total

Total foreclosure filings in Connecticut accounted for 1 percent of the 223,538 foreclosure filings nationwide in September. The national total represents an 8 percent decrease from the previous month but is still 99 percent above the total reported for September 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 557 U.S. households for the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of foreclosure filings — both nationwide and by state — over the preceding month. RealtyTrac’s report includes properties in all three phases of foreclosure: Defaults — Notice of Default (NOD) and Lis Pendens (LIS); Auctions — 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).

 

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

 

 

                Connecticut Foreclosure Market by County – September 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

47,234

63,405

21,925

51,172

39,802

223,538

557

n/a

n/a

Connecticut

0

3

184

954

234

1,375

1,035

0.54

n/a

 

 

 

 

 

 

 

 

 

 

Ansonia

0

0

0

0

0

0

n/a

n/a

n/a

Barkhamsted

0

0

0

0

0

0

n/a

n/a

n/a

Bridgeport

0

0

0

0

0

0

n/a

n/a

n/a

Cheshire

0

0

0

0

0

0

n/a

n/a

n/a

Chester

0

0

0

0

0

0

n/a

n/a

n/a

Colebrook

0

0

0

0

0

0

n/a

n/a

n/a

Danbury

0

0

0

0

0

0

n/a

n/a

n/a

Durham

0

0

0

0

0

0

n/a

n/a

n/a

East Lyme

0

0

0

0

0

0

n/a

n/a

n/a

Essex

0

0

0

0

0

0

n/a

n/a

n/a

Fairfield

0

0

45

226

43

314

1,105

0.50

0.94

Farmington

0

0

0

0

0

0

n/a

n/a

n/a

Glastonbury

0

0

0

0

0

0

n/a

n/a

n/a

Groton

0

0

0

0

0

0

n/a

n/a

n/a

Guilford

0

0

0

0

0

0

n/a

n/a

n/a

Hartford

0

0

61

190

47

298

1,210

0.46

0.86

Harwinton

0

0

0

0

0

0

n/a

n/a

n/a

Lisbon

0

0

0

0

0

0

n/a

n/a

n/a

Litchfield

0

0

6

61

14

81

1,017

0.55

1.02

Middlesex

0

0

9

34

4

47

1,511

0.37

0.68

Middletown

0

0

0

0

0

0

n/a

n/a

n/a

Montville

0

0

0

0

0

0

n/a

n/a

n/a

New Britain

0

0

0

0

0

0

n/a

n/a

n/a

New Haven

0

1

57

311

69

438

792

0.70

1.31

New London

0

0

1

73

43

117

981

0.57

1.05

Newtown

0

0

0

0

0

0

n/a

n/a

n/a

Norwalk

0

0

0

0

0

0

n/a

n/a

n/a

Old Lyme

0

0

0

0

0

0

n/a

n/a

n/a

Old Saybrook

0

0

0

0

0

0

n/a

n/a

n/a

Plainfield

0

0

0

0

0

0

n/a

n/a

n/a

Plainville

0

0

0

0

0

0

n/a

n/a

n/a

Plymouth

0

0

0

0

0

0

n/a

n/a

n/a

Pomfret

0

0

0

0

0

0

n/a

n/a

n/a

Portland

0

0

0

0

0

0

n/a

n/a

n/a

Preston

0

0

0

0

0

0

n/a

n/a

n/a

Putnam

0

0

0

0

0

0

n/a

n/a

n/a

Ridgefield

0

0

0

0

0

0

n/a

n/a

n/a

Roxbury

0

0

0

0

0

0

n/a

n/a

n/a

Salem

0

0

0

0

0

0

n/a

n/a

n/a

Sharon

0

0

0

0

0

0

n/a

n/a

n/a

Simsbury

0

0

0

0

0

0

n/a

n/a

n/a

South Windsor

0

0

0

0

0

0

n/a

n/a

n/a

Stamford

0

0

0

0

0

0

n/a

n/a

n/a

Sterling

0

0

0

0

0

0

n/a

n/a

n/a

Tolland

0

0

5

32

6

43

1,274

0.44

0.81

Trumbull

0

0

0

0

0

0

n/a

n/a

n/a

Voluntown

0

0

0

0

0

0

n/a

n/a

n/a

Watertown

0

0

0

0

0

0

n/a

n/a

n/a

Windham

0

2

0

27

8

37

1,245

0.45

0.83

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastest growing private companies, RealtyTrac Inc. (www.realtytrac.com), is the leading online marketplace for foreclosure properties, providing all the resources that home seekers, investors and real estate agents need to locate, evaluate and buy properties below market value.

 

Founded in 1996, RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure, foreclosure, For Sale By Owner, resale and new homes, with more than 1.3 million properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts nearly 3 million unique visitors monthly and has been chosen to supply foreclosure data to MSN Real Estate, Yahoo! Real Estate and the Wall Street Journal’s Real Estate Journal. For more information, visit (www.realtytrac.com).

 

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

 

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved