CONNECTICUT FORECLOSURE ACTIVITY UP 35 PERCENT IN DECEMBER

Yearly Foreclosure Total Up 61 Percent From December 2006

 

IRVINE, Calif. – Jan. 25, 2008 – Connecticut reported 1,733 foreclosure filings in December, a 35 percent increase from the previous month, and a 61 percent increase from December 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.

 

Connecticut foreclosures are up both in December and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that the state’s unemployment rate grew nearly 1 percent over the past year, which may be contributing to the overall rise.”

 

Connecticut ranked 23rd in the country in total foreclosures reported for the month. The state’s foreclosure rate of one foreclosure filing for every 821 households ranked it 17th among the 50 states.

 

Three counties lead state in foreclosure filings

Three counties accounted for 79 percent of all foreclosure filings in Connecticut for December. New Haven County led the state in total foreclosure activity for December, reporting 591 foreclosure filings. Fairfield County came in second with 403 foreclosure filings, followed by Hartford County with 382 foreclosure filings.

 

New Haven County posts highest foreclosure rate

New Haven County reported the highest foreclosure rate in the state for December, one foreclosure filing for every 587 households — 1.4 times the state average. Windham County came in second with one foreclosure filing for every 808 households. Fairfield County posted the third highest foreclosure rate, one foreclosure filing for every 861 households.

 

State contributes 1 percent to nation’s monthly total

Total foreclosure filings in Connecticut accounted for 1 percent of the 215,749 foreclosure filings reported nationwide in December. The national total represents a 7 percent increase from the previous month, and is 97 percent above the total reported for December 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 577 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 – December 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

Households per Filing

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

46,182

54,280

18,488

47,945

48,854

215,749

577

n/a

n/a

Connecticut

0

1

180

1,148

404

1,733

821

0.70

n/a

 

 

 

 

 

 

 

 

 

 

Fairfield

0

1

56

282

64

403

861

0.67

0.95

Hartford

0

0

46

236

100

382

944

0.61

0.87

Litchfield

0

0

13

47

26

86

958

0.60

0.86

Middlesex

0

0

2

44

11

57

1,246

0.46

0.66

New Haven

0

0

58

398

135

591

587

0.98

1.40

New London

0

0

1

75

53

129

890

0.65

0.92

Tolland

0

0

2

22

4

28

1,956

0.30

0.42

Windham

0

0

2

44

11

57

808

0.71

1.02

 

 

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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