CONNECTICUT FORECLOSURES DECREASE 11 PERCENT IN JULY

ACCORDING TO REALTYTRAC® U.S. FORECLOSURE MARKET REPORT

 

Yearly Total Up 104 Percent From July 2006

 

IRVINE, Calif. – Aug. 24, 2007 – Connecticut reported 2,118 foreclosure filings in July, an 11 percent decrease from the previous month, but still up 104 percent from July 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.

 

“Although Connecticut foreclosures decreased in July, the numbers have doubled since this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that the state’s home price appreciation rate was below the national average earlier this year which is probably contributing to the overall yearly rise in foreclosures.”

 

Connecticut ranked 18th in the country in total foreclosures for the month. The state’s foreclosure rate of one foreclosure filing for every 672 households ranked it 11th among the 50 states.

 

New Haven County leads state in foreclosure activity

New Haven County led the state in foreclosure activity for July, reporting 706 foreclosure filings. Hartford County reported the second highest county total with 450 filings. Fairfield County tallied the third highest total with 403 filings for the month, followed by New London County with 195 filings entering some part of the foreclosure pipeline.

 

Highest foreclosure rate reported in Windham County

With a rate of one foreclosure filing for every 447 households — 1.5 times the state average and 1.6 times the national average  — Windham County reported the highest county foreclosure rate in the state for July. Close behind was New Haven County with a rate of one foreclosure filing for every 491 households – 1.4 times the state average and 1.4 times the national average. New London County posted the third highest foreclosure rate, one foreclosure filing for every 589 households. Litchfield County came in fourth with a foreclosure rate of one foreclosure filing for every 659 households. Hartford County rounded out the state’s top five with a rate of one foreclosure filing for every 801 households.

 

State contributes 1 percent to nation’s monthly total

Total foreclosure filings in Connecticut accounted for 1 percent of the 179,599 foreclosure filings nationwide in July. The national total was up 9 percent from the previous month and up 93 percent from July 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 693 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 – July 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

36,741

57,327

23,136

35,553

26,842

179,599

693

n/a

n/a

Connecticut

n/a

0

129

1,873

116

2,118

672

1.03

n/a

 

 

 

 

 

 

 

 

 

 

Fairfield

n/a

n/a

58

333

12

403

861

0.81

0.78

Hartford

n/a

0

10

424

16

450

801

0.87

0.84

Litchfield

n/a

0

1

115

9

125

659

1.05

1.02

Middlesex

n/a

n/a

5

74

5

84

846

0.82

0.79

New Haven

n/a

n/a

47

616

43

706

491

1.41

1.37

New London

n/a

0

3

171

21

195

589

1.18

1.14

Tolland

n/a

n/a

4

46

2

52

1,053

0.66

0.64

Windham

n/a

n/a

1

94

8

103

447

1.55

1.50

 

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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