Connecticut Foreclosure Activity Falls in November

Statewide filings down 8 percent from October; down 4 percent from previous year

 

Connecticut foreclosure activity fell in November to 2,114 properties with foreclosure filings, down 8 percent from the previous month, and 4 percent below the level reported in November 2008according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Foreclosure activity in Connecticut dropped both in November and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest decrease was in auctions, which fell 27 percent for the month and 79 percent from November 2008. The state’s unemployment rate remains below the national average and home sales are beginning to pick up. If these trends continue, we may see foreclosures fall even further.”

 

Connecticut ranked 29th in the country in total foreclosure filings for the month. With one in every 680 housing units receiving a foreclosure filing, its foreclosure rate ranked 20th among the 50 states.

 

Windham County posts state’s highest foreclosure rate in November

With one in every 573 housing units receiving a foreclosure filing — 1.2 times the state average — Windham County posted the highest county foreclosure rate in the state for November. New Haven County had the second highest rate, with one in every 609 housing units receiving a foreclosure filing — 1.1 times the state average. Fairfield County came in third highest, with one in every 613 housing units receiving a foreclosure filing — 1.1 times the state average.

 

Five counties responsible for bulk of state’s foreclosure filings for November

Five counties accounted for 89 percent of all foreclosure activity in the state during November. New Haven County led all counties, totaling 574 properties with foreclosure filings for the month. Fairfield County was second highest, documenting 572 properties with foreclosure filings. Reporting 480 properties with foreclosure filings for the month, Hartford County had the third highest total in the state. New London County was fourth highest, reporting 143 properties with foreclosure filings, while Litchfield County came in fifth, reporting 110 properties with foreclosure filings.

 

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

Connecticut accounted for 1 percent of the 306,627 properties with foreclosure filings reported nationwide in November. Total U.S. activity declined nearly 8 percent from the previous month but was still 18 percent ahead of November 2008. One in every 417 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 – November 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

44,757

69,413

81,843

33,913

76,701

306,627

417

n/a

n/a

Connecticut

0

1,585

0

95

434

2,114

680

0.61

n/a

 

 

 

 

 

 

 

 

 

 

Windham

0

66

0

0

16

82

573

0.73

1.19

New Haven

0

419

0

26

129

574

609

0.69

1.12

Fairfield

0

454

0

28

90

572

613

0.68

1.11

Litchfield

0

77

0

2

31

110

757

0.55

0.90

Hartford

0

343

0

23

114

480

758

0.55

0.90

 

 

Connecticut Top Foreclosure Totals by County – November 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Oct 09

% Chg Nov 08

 

 

 

 

 

 

 

 

 

 

United States

44,757

69,413

81,843

33,913

76,701

306,627

417

-7.72

18.35

Connecticut

0

1,585

0

95

434

2,114

680

-8.33

-3.69

 

 

 

 

 

 

 

 

 

 

New Haven

0

419

0

26

129

574

609

-18.81

-13.55

Fairfield

0

454

0

28

90

572

613

-3.05

12.38

Hartford

0

343

0

23

114

480

758

-5.33

-1.44

New London

0

102

0

5

36

143

815

-5.30

-27.41

Litchfield

0

77

0

2

31

110

757

0.92

-9.09

 

 

 

 

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