Connecticut Foreclosure Activity Fell in Second Quarter

Activity level fell 5 percent from Q1

Foreclosure filings increase 13 percent mid-year; down 9 percent in June

 

Connecticut reported 6,641 properties with foreclosure filings for the second quarter of 2010, a 5 percent fall from the first quarter, but still 119 percent above the level reported in the second quarter of 2009.

 

Activity level in Connecticut rose during the first half of 2010, but still fell for the month of June. For the first six months of the year, Connecticut reported 13,315 properties with foreclosure filings, a 13 percent rise in activity from the second half of 2009 and 51 percent above the level reported mid-year 2009. In June the state tallied 1,895 properties with foreclosure filings, a decrease of 9 percent from the previous month, but still up 30 percent from June 2009.

 

“Foreclosure activity in Connecticut fell slightly during the second quarter of 2010, though it remained more than double the level reported for the same time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The number of filings remained high overall for the first half of 2010 as compared to the previous six months, even as the state’s 8.9 percent unemployment rate fell well below the national average.”

 

One in every 217 Connecticut housing units received a foreclosure filing during the quarter, giving the state the 21st highest foreclosure rate in the nation.

 

Windham County posts state’s top foreclosure rate for the quarter

Windham County posted the highest county foreclosure rate in Connecticut during the second quarter, with one in every 156 housing units receiving a foreclosure filing. New Haven County had the second highest foreclosure rate, with one in every 193 housing units receiving a foreclosure filing. Fairfield County had the third highest foreclosure rate, with one in every 199 housing units receiving a foreclosure filing.

 

New Haven County leads state in total foreclosures for the second quarter

New Haven County led Connecticut in total foreclosures, reporting 1,813 properties with foreclosure filings for the quarter. Fairfield County had the second highest total, reporting 1,770 properties with foreclosure filings. Reporting 1,422 properties with foreclosure filings for the quarter, Hartford County came in third. New London County was fourth, reporting 486 properties with foreclosure filings. Fifth highest total was Litchfield County, where 416 properties with foreclosure filings were reported for the quarter.

 

State a minor contributor to nation’s quarterly total

Foreclosure activity in Connecticut represented less than 1 percent of the 895,521 properties with foreclosure filings reported nationwide for the second quarter of 2010. Total U.S. activity fell by almost 4 percent from the previous quarter and was virtually unchanged from the second quarter 2009. One in every 144 U.S. housing units received a foreclosure filing during the quarter.

 

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 – Q2 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

102,797

169,209

251,435

102,118

269,962

895,521

144

n/a

n/a

Connecticut

0

4,882

0

403

1,356

6,641

217

0.66

n/a

 

 

 

 

 

 

 

 

 

 

Windham

0

215

0

18

70

303

156

0.93

1.40

New Haven

0

1,281

0

111

421

1,813

193

0.75

1.13

Fairfield

0

1,406

0

58

306

1,770

199

0.72

1.09

Litchfield

0

302

0

28

86

416

201

0.72

1.08

New London

0

349

0

37

100

486

241

0.60

0.90

 

 

Connecticut Top Foreclosure Totals by County – Q2 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Q1 2010

% Chg Q2 2009

 

 

 

 

 

 

 

 

 

 

United States

102,797

169,209

251,435

102,118

269,962

895,521

144

-3.94

0.64

Connecticut

0

4,882

0

403

1,356

6,641

217

-5.01

119.32

 

 

 

 

 

 

 

 

 

 

New Haven

0

1,281

0

111

421

1,813

193

-9.80

111.31

Fairfield

0

1,406

0

58

306

1,770

199

-5.55

126.92

Hartford

0

1,013

0

118

291

1,422

256

-5.07

92.68

New London

0

349

0

37

100

486

241

4.29

167.03

Litchfield

0

302

0

28

86

416

201

4.52

140.46

 

 

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