Connecticut Foreclosure Activity Decreases in January

Statewide filings down 9 percent from December; Up 34 percent from a year ago

 

Foreclosure activity in Connecticut decreased in January to 2,218 properties with foreclosure filings, a 9 percent decline from December 2009 but still 34 percent ahead of January 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Connecticut foreclosures were down in January but still ahead of this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest decline was in default notices, which dropped 17 percent during the month. The state’s unemployment rate remains below the national average, and home sales picked up significantly during the fourth quarter. If these trends continue, we may see foreclosures decline further in 2010.”

 

Connecticut ranked 28th in the country for total foreclosures in January. With one in every 651 housing units receiving a foreclosure filing, its foreclosure rate ranked 21st among the 50 states.

 

New Haven County posts top foreclosure rate in the state for January

With one in every 541 housing units receiving a foreclosure filing — 1.2 times the state average — New Haven County posted the state’s highest county foreclosure rate in January. Fairfield County was second, with one in every 583 housing units receiving a foreclosure filing — 1.1 times the state average. Windham County came in third highest, with one in every 629 housing units receiving a foreclosure filing — on par with the state average. Fourth highest rate was in Litchfield County, where one in every 678 housing units received a foreclosure filing during the month. The fifth highest total was reported in New London County, where one in every 746 housing units received a foreclosure filing during the month.

 

Five counties responsible for bulk of state foreclosure total in January

Five counties accounted for 89 percent of all foreclosure filings in the state for January. New Haven County led the way, totaling 647 properties with foreclosure filings for the month. Fairfield County was second highest, documenting 604 properties with foreclosure filings. Reporting 452 properties with foreclosure filings for the month, Hartford County had the third highest total. New London County came in fourth, reporting 157 properties with foreclosure filings, followed by Litchfield County where 123 properties with foreclosure filings were reported.

 

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

Connecticut accounted for less than one percent of the 315,716 properties with foreclosure filings reported nationwide in January. Total U.S. activity declined nearly 10 percent from the previous month but was still 15 percent ahead of January 2009. One in every 409 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: DefaultNotice 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 – January 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

40,456

62,850

90,451

34,311

87,648

315,716

409

n/a

n/a

Connecticut

0

1,519

0

99

600

2,218

651

0.63

n/a

 

 

 

 

 

 

 

 

 

 

New Haven

0

429

0

25

193

647

541

0.75

1.20

Fairfield

0

415

0

22

167

604

583

0.70

1.12

Windham

0

51

0

1

23

75

629

0.64

1.04

Litchfield

0

80

0

4

39

123

678

0.60

0.96

New London

0

100

0

4

53

157

746

0.54

0.87

 

           

 

Connecticut Top Foreclosure Totals by County – January 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every

X HU (rate)

% Chg

Dec 09

% Chg

Jan 09

 

 

 

 

 

 

 

 

 

 

United States

40,456

62,850

90,451

34,311

87,648

315,716

409

-9.67

15.06

Connecticut

0

1,519

0

99

600

2,218

651

-8.54

34.34

 

 

 

 

 

 

 

 

 

 

New Haven

0

429

0

25

193

647

541

-9.64

15.54

Fairfield

0

415

0

22

167

604

583

-7.93

101.33

Hartford

0

324

0

29

99

452

807

-6.42

16.80

New London

0

100

0

4

53

157

746

-6.55

26.61

Litchfield

0

80

0

4

39

123

678

-21.66

29.47

 

 

 

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