ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT
State’s Activity Up 63 Percent From a Year Ago
IRVINE, Calif. – March 26, 2007 – Connecticut reported 1,473 foreclosure filings in February, a 14 percent increase from the previous month and a 63 percent increase from February 2006, according to the latest RealtyTrac™ U.S. Foreclosure Market Report.
RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 850,000 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.
“Home appreciation in Connecticut has been declining after two years of steady growth,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state’s foreclosure activity is not only up compared to last month, but also well above the level seen last year.”
Connecticut ranked 20th in the country in total foreclosures reported for February. The state’s foreclosure rate of one foreclosure filing for every 941 households ranked 16th among the 50 states.
New Haven County leads state in foreclosure activity
New Haven County reported the highest county total with 420 foreclosure filings for the month. Hartford County came in second, reporting 419 foreclosure filings. Fairfield County reported the third highest total, reporting 314 foreclosure filings.
Windham County reports highest foreclosure rate in state
Windham County tallied the highest foreclosure rate in Connecticut for February, with one foreclosure filing for every 758 households — 1.2 times the state average and 1.2 times the national average. New Haven County had the second highest foreclosure rate for February, with one foreclosure filing for every 810 households — 1.2 times the state average and 1.1 times the national average. Hartford County reported the third highest rate, one foreclosure filing for every 843 households — 1.1 times the state average and 1.1 times the national average.
State makes contribution to national total
The total number of foreclosure filings in Connecticut accounted for about 1 percent of the 130,786 filings nationwide in February. The national total was down 4 percent from the previous month, but still up 12 percent from February 2006. The nation’s foreclosure rate increased slightly to one foreclosure filing for every 884 households during the month.
The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. 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 – February 2007
1 in every # households
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 construction properties, 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).
Atomic Public Relations