Connecticut Foreclosure Activity Rises Again in August

Foreclosure activity in Connecticut rose 40 percent in August to 2,198 properties with foreclosure filings, a 22 percent increase from the level reported in August 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

Connecticut’s foreclosure activity surged upward in August and is still elevated from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment is a major contributing factor to this as the Constitution State’s jobless rate has risen 2 percent over the past year.”

 

One in every 654 Connecticut housing units received a foreclosure filing in August, the 24th highest foreclosure rate in the nation.

 

Fairfield County tops state in both foreclosure rate and total for August

With one in every 548 housing units receiving a foreclosure filing — 1.2 times the state average — Fairfield County posted the highest county foreclosure rate in the state for August. Fairfield County also tallied the highest activity level, reporting 640 properties with foreclosure filings for the month.

 

Windham County had the second highest rate, with one in every 552 housing units receiving a foreclosure filing during the month — 1.2 times the state average. Third highest rate was documented in New Haven County, where one in every 605 housing units received a foreclosure filing — 1.1 times the state average.

 

New Haven County had the second highest total of foreclosure filings, documenting 577 properties with foreclosure filings. Reporting 470 properties with foreclosure filings for the month, Hartford County reported the third highest total in the state. New London County was fourth highest, reporting 136 properties with foreclosure filings, while the fifth highest total was in Litchfield County, where 130 properties with foreclosure filings were reported for the month.

 

State a minor contributor to the nation’s foreclosure activity in August

Connecticut accounted for less than 1 percent of the 358,471 properties with foreclosure filings reported nationwide in August. Total U.S. activity declined fractionally from the previous month but was still 18 percent ahead of August 2008. One in every 357 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac Monthly U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing reported during the month — broken out by type of filing at the county, state and national level. 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 filed against a property during the month — which is extremely rare — 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 – August 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl Avg

/State Avg

 

 

 

 

 

 

 

 

 

 

United States

62,070

76,154

105,850

38,263

76,134

358,471

357

n/a

n/a

Connecticut

0

1,594

0

214

390

2,198

654

0.55

n/a

 

 

 

 

 

 

 

 

 

 

Fairfield

0

502

0

52

86

640

548

0.65

1.20

Windham

0

62

0

5

18

85

552

0.65

1.18

New Haven

0

417

0

49

111

577

605

0.59

1.08

Litchfield

0

91

0

9

30

130

640

0.56

1.02

Middlesex

0

53

0

30

14

97

744

0.48

0.88

 

 

Connecticut Top Foreclosure Totals by County – August 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg July 09

% Chg Aug 08

 

 

 

 

 

 

 

 

 

 

United States

62,070

76,154

105,850

38,263

76,134

358,471

357

6.74

32.32

Connecticut

0

1,594

0

214

390

2,198

654

40.09

22.25

 

 

 

 

 

 

 

 

 

 

Fairfield

0

502

0

52

86

640

548

63.68

49.88

New Haven

0

417

0

49

111

577

605

36.73

1.76

Hartford

0

337

0

49

84

470

774

39.05

18.39

New London

0

91

0

13

32

136

857

-20.00

5.43

Litchfield

0

91

0

9

30

130

640

39.78

56.63

 

 

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