ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT
Foreclosure Activity Up 8 Percent From a Year Ago
IRVINE, Calif. – Dec. 19, 2007 – Connecticut reported 1,282 foreclosure filings in November, a 20 percent decrease from the previous month, but still an 8 percent increase from November 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.
“Employment growth within Connecticut is leveling out and personal bankruptcies have been plaguing the state for months,” said James J. Saccacio, chief executive officer of RealtyTrac. “Still, the state is reporting a significant decrease in foreclosure activity compared to one month ago.”
Connecticut ranked 23rd in the country in total foreclosures reported for November. The state’s foreclosure rate of one foreclosure filing for every 1,110 households ranked it 23rd among the 50 states.
New Haven County leads state in foreclosure activity
New Haven County led the state with 412 foreclosure filings for the month. Fairfield County reported the second highest state total, with 344 foreclosure filings. Hartford County came in third highest, with 323 foreclosure filings. Middlesex County had the fourth highest state total, with 66 foreclosure filings entering some part of the foreclosure pipeline.
New Haven County posts highest foreclosure rate for November
New Haven County tallied the highest foreclosure rate in Connecticut for November, one foreclosure filing for every 842 households — 1.3 times the state average. Fairfield County registered the second highest foreclosure rate, one foreclosure filing for every 1,009 households. Middlesex County posted the third highest foreclosure rate, one foreclosure filing for every 1,076 households.
State makes a minor contribution to national total
Total foreclosure filings in Connecticut accounted for less than 1 percent of the 201,950 foreclosure filings reported nationwide in November. The national total represents a 10 percent decrease from the previous month, but is still 68 percent above the total reported for November 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 617 U.S. households for the month.
The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. 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 – November 2007
Households per Filing
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 construction properties, 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).
Atomic Public Relations