ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT
State’s Activity Up 67 Percent From a Year Ago
IRVINE, Calif. – Feb. 25, 2007 – Connecticut documented 1,287 new foreclosure filings in January, a 20 percent increase from the previous month, and a 67 percent increase from January 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 January. The state’s foreclosure rate of one new foreclosure filing for every 1,077 households ranked 17th among the 50 states.
New Haven County leads the state in foreclosure activity
New Haven County documented the highest foreclosure filings in January, reporting 395 foreclosure filings for the month. Fairfield County documented the second highest total in the state, reporting 318 filings. Hartford County posted the third highest total, with 313 foreclosure filings.
New Haven County leads state in foreclosure rate
New Haven County tallied the highest foreclosure rate in Connecticut for January, with one new foreclosure filing for every 862 households — 1.3 times the state average. Tolland County registered the second highest rate, with one new foreclosure filing for every 921 households — 1.2 times the state average. Fairfield County registered the third highest foreclosure rate, with one new foreclosure filing for every 1,067 households.
State makes small contribution to national total
Connecticut accounted for 1 percent of the 130,511 foreclosure filings in January, up 19 percent from the previous month and up 25 percent from January 2006. The nation’s foreclosure rate increased to one new foreclosure filing for every 886 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 – January 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