CONNECTICUT FORECLOSURE ACTIVITY UP 16 PERCENT IN OCTOBER

ACCORDING TO REALTYTRAC® U.S. FORECLOSURE MARKET REPORT

 

Foreclosure Activity Up 36 Percent From October 2006

 

IRVINE, Calif. – Nov. 26, 2007 – Connecticut reported 1,594 foreclosure filings in October, a 16 percent increase from the previous month and 36 percent above the number reported in October 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1 million properties from nearly 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.

 

“Employment growth within Connecticut is leveling out and personal bankruptcies within the state are on the rise,” said James J. Saccacio, chief executive officer of RealtyTrac. “While the state’s foreclosure activity is up only slightly compared to last month, it remains well above the level seen last year.”

 

Connecticut ranked 24th in the country in total foreclosures reported for October. The state’s foreclosure rate of one foreclosure filing for every 893 households ranked it 18th among the 50 states.

 

New Haven leads state in foreclosure activity

New Haven County led the state in foreclosure activity, with 478 foreclosure filings for the month. Hartford County reported the second highest foreclosure total, with 444 foreclosure filings. Fairfield County posted the third highest foreclosure total, with 326 foreclosure filings. New London County had the fourth highest foreclosure total, with 96 foreclosure filings entering some part of the foreclosure pipeline.

 

Windham County posts highest foreclosure rate

Windham County tallied the highest foreclosure rate in Connecticut for October, with one foreclosure filing for every 698 households — 1.3 times the state average. New Haven County registered the second highest foreclosure rate, with one foreclosure filing for every 726 households — 1.2 times the state average. Hartford County posted the third highest foreclosure rate, with one foreclosure filing for every 812 households.

 

State makes small contribution to nation’s total in October

Total foreclosure filings in Connecticut accounted for less than 1 percent of the 224,451 foreclosure filings reported nationwide in October. The national total represents a 2 percent increase from the previous month, and is 94 percent above the total reported for October 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 555 U.S. households for the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of foreclosure filings — both nationwide and by state — over the preceding month. RealtyTrac’s report includes properties in all three phases of foreclosure: Defaults — Notice of Default (NOD) and Lis Pendens (LIS); Auctions — 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).

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

 

                 Connecticut Foreclosure Market by County – October 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

41,404

58,597

22,485

48,356

53,609

224,451

555

n/a

n/a

Connecticut

0

3

245

1,061

285

1,594

893

0.62

n/a

 

 

 

 

 

 

 

 

 

 

Fairfield

0

1

53

223

49

326

1,064

0.52

0.84

Hartford

0

0

73

300

71

444

812

0.68

1.10

Litchfield

0

0

11

53

12

76

1,084

0.51

0.82

Middlesex

0

0

5

60

15

80

888

0.62

1.01

New Haven

0

1

79

316

82

478

726

0.76

1.23

New London

0

1

11

43

41

96

1,196

0.46

0.75

Tolland

0

0

7

18

3

28

1,956

0.28

0.46

Windham

0

0

6

48

12

66

698

0.79

1.28

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastest growing private companies, RealtyTrac Inc. (www.realtytrac.com), is the leading online marketplace for foreclosure properties, providing all the resources that home seekers, investors and real estate agents need to locate, evaluate and buy properties below market value.

 

Founded in 1996, RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure, foreclosure, For Sale By Owner, resale and new homes, with more than 1.3 million properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts nearly 3 million unique visitors monthly and has been chosen to supply foreclosure data to MSN Real Estate, Yahoo! Real Estate and the Wall Street Journal’s Real Estate Journal. For more information, visit (www.realtytrac.com).

 

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Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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