CONNECTICUT FORECLOSURES INCREASE 2 PERCENT IN AUGUST

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity 928 Percent Above August 2006

 

IRVINE, Calif. – Sept. 21, 2007 – Connecticut reported 2,170 foreclosure filings in August, a 2 percent increase from the previous month, and 928 percent above the number reported in August 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 22nd in the country in total foreclosures reported for August. The state’s foreclosure rate — one foreclosure filing for every 656 households — was the 13th highest in the nation.

 

New Haven County accounts for a third of all foreclosure activity

New Haven County led the state with 706 foreclosure filings for the month. Hartford County reported the second highest state total with 567 foreclosure filings. Fairfield County came in third with 454 foreclosure filings. New London County had the fourth highest county total with 148 filings entering some stage of the foreclosure pipeline.

 

New Haven County posts highest foreclosure rate for August

With one foreclosure filing for every 491 households — 1.3 times the state average and on par with the national average — New Haven County topped the list of county foreclosure rates in the state for August. Second highest rate was posted in Hartford County, one foreclosure filing for every 636 households — on par with the state average. Windham County posted the third highest rate in the state, one foreclosure filing for every 755 households.

 

State a minor contributor to national total

Connecticut accounted for less than 1 percent of the 243,947 foreclosure filings nationwide in August. The national total represents a 36 percent increase from the previous month and is up 115 percent from August 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 510 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 – August 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

56,388

67,632

24,810

52,328

42,789

243,947

510

n/a

n/a

Connecticut

0

2

305

1,660

203

2,170

656

0.78

n/a

 

 

 

 

 

 

 

 

 

 

Fairfield

0

1

59

365

29

454

764

0.67

0.86

Hartford

0

1

88

445

33

567

636

0.80

1.03

Litchfield

0

0

14

76

11

101

816

0.63

0.80

Middlesex

0

0

6

62

8

76

935

0.55

0.70

New Haven

0

0

112

540

54

706

491

1.04

1.33

New London

0

0

5

98

45

148

776

0.66

0.85

Tolland

0

0

19

32

6

57

961

0.53

0.68

Windham

0

0

2

42

17

61

755

0.68

0.87

 

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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