Connecticut Foreclosure Activity Increases in July

Statewide filings up 22 percent from June

 

Foreclosure activity in Connecticut increased 22 percent in July to 2,319 properties with foreclosure filings, 48 percent above the level reported in July 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

Connecticut foreclosures were up in July and from the same time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest increase was in bank-owned properties, which jumped 89 percent for the month. Both home prices and home sales declined slightly more than the national average earlier this year. Unemployment was also up slightly in July. Taken together these factors are all contributing to the uptick in foreclosure activity statewide.”

 

Connecticut ranked 28th in the country in total foreclosures for the month. With one in every 622 housing units receiving a foreclosure filing, its foreclosure rate ranked 20th among the 50 states.

 

Windham County posts top county foreclosure rate in July

One in every 433 housing units in Windham County received a foreclosure filing in July, giving the county the top foreclosure rate in the state for the month. New Haven County posted the second highest rate, with one in every 535 housing units receiving a foreclosure filing during the month. Coming in third was Litchfield County, where one in every 549 housing units received a foreclosure filing in July.

 

New Haven County dominates state with top foreclosure total for July

Reporting 654 properties with foreclosure filings in July, New Haven County led the state in total foreclosure activity. Second highest was Fairfield County, where 574 properties with foreclosure filings were reported for the month. Hartford County came in third highest, tallying 475 properties with foreclosure filings. Fourth highest was New London County, where 195 properties with foreclosure filings were reported. Litchfield County was fifth, reporting 152 properties with foreclosure filings for the month.

 

State a minor contributor to nation’s monthly foreclosure total

Connecticut accounted for 1 percent of the 325,229 properties with foreclosure filings reported nationwide in July. Total U.S. activity increased by more than 3 percent from the previous month but was down almost 10 percent from the level reported in July 2009. One in every 397 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: 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 – July 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

42,651

54,472

87,310

47,938

92,858

325,229

397

n/a

n/a

Connecticut

0

1,414

0

182

723

2,319

622

0.64

n/a

 

 

 

 

 

 

 

 

 

 

Windham

0

65

0

6

38

109

433

0.92

1.44

New Haven

0

387

0

40

227

654

535

0.74

1.16

Litchfield

0

87

0

12

53

152

549

0.72

1.13

New London

0

124

0

17

54

195

600

0.66

1.04

Fairfield

0

384

0

44

146

574

613

0.65

1.01

 

 

Connecticut Top Foreclosure Totals by County – July 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg June 10

% Chg July 09

 

 

 

 

 

 

 

 

 

 

United States

42,651

54,472

87,310

47,938

92,858

325,229

397

3.63

-9.70

Connecticut

0

1,414

0

182

723

2,319

622

22.37

47.80

 

 

 

 

 

 

 

 

 

 

New Haven

0

387

0

40

227

654

535

21.34

54.98

Fairfield

0

384

0

44

146

574

613

15.49

46.80

Hartford

0

269

0

43

163

475

768

28.38

40.53

New London

0

124

0

17

54

195

600

38.30

14.71

Litchfield

0

87

0

12

53

152

549

27.73

63.44

 

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