Connecticut Foreclosure Activity Rises in April

Statewide filings up 4 percent from March; up 34 percent from year ago

 

Monthly foreclosure activity in Connecticut rose in April, up 4 percent from the previous month to 2,915 properties with foreclosure filings. This latest state total also represents a 34 percent year-over-year increase in foreclosure filings from April 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Foreclosure activity in Connecticut rose in April to a level well above what was reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “However, with unemployment inching downward and four consecutive months of job growth within the state, a break in foreclosures could be forthcoming.”

 

Connecticut ranked 27th nationally in total foreclosure activity for the month. The state had the 18th highest state foreclosure rate in the nation with one in 495 Connecticut housing units receiving a foreclosure filing during the month.

 

Windham County led the state in foreclosure rate for April

With one in every 337 housing units receiving a foreclosure filing — 1.2 times the national average and 1.5 times the state average — Windham County posted the highest county foreclosure rate in the state for the month. Litchfield County came in second, with one in every 432 housing units receiving a foreclosure filing — 1.2 times the state average. New Haven County was third, with one in every 438 housing units receiving a foreclosure filing — 1.1 times the state average.

 

New Haven County tops in total foreclosure activity for April

New Haven County led all counties in the state, reporting 798 properties with foreclosure filings for the month. Fairfield County was a close second, documenting 794 properties with foreclosure filings. Reporting 615 properties with foreclosure filings for the month, Hartford County ranked third highest. New London County was fourth, reporting 212 properties with foreclosure filings. A total of 193 properties with foreclosure filings was reported in Litchfield County, the fifth highest county total in April.

 

State a modest contributor to nation’s month foreclosure total

Connecticut accounted for 1 percent of the 333,837 properties with foreclosure filings reported nationwide in April. Total U.S. activity declined more than 9 percent from the previous month and was 2 percent below the level reported in April 2009. One in every 387 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 – April 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

42,889

60,873

96,770

40,873

92,432

333,837

387

n/a

n/a

Connecticut

0

2,164

0

151

600

2,915

495

0.78

n/a

 

 

 

 

 

 

 

 

 

 

Windham

0

92

0

9

39

140

337

1.15

1.47

Litchfield

0

147

0

10

36

193

432

0.89

1.15

New Haven

0

562

0

40

196

798

438

0.88

1.13

Fairfield

0

635

0

20

139

794

443

0.87

1.12

New London

0

169

0

15

28

212

552

0.70

0.90

 

 

Connecticut Top Foreclosure Totals by County – April 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Mar 10

% Chg Apr 09

 

 

 

 

 

 

 

 

 

 

United States

42,889

60,873

96,770

40,873

92,432

333,837

387

-9.05

-2.40

Connecticut

0

2,164

0

151

600

2,915

495

4.37

34.08

 

 

 

 

 

 

 

 

 

 

New Haven

0

562

0

40

196

798

438

-0.13

27.68

Fairfield

0

635

0

20

139

794

443

2.45

48.41

Hartford

0

436

0

47

132

615

593

-2.69

12.84

New London

0

169

0

15

28

212

552

21.84

53.62

Litchfield

0

147

0

10

36

193

432

31.29

35.92

 

 

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