Connecticut Foreclosure Activity Falls in August

Filings decrease 23 percent from July

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 1,796 Connecticut properties in August, a 23 percent decrease from the previous month and an 18 percent decrease from August 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.  

 

“Connecticut reported a significant drop in foreclosure filings in August, bringing activity to well below the level reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “That said, a new wave of filings could be on the way, as the state’s unemployment rate just climbed above 9 percent with 5,300 jobs lost in the past two months following what appeared to be a period of improvement.”

 

The state reported the 32nd highest state foreclosure rate, as one in every 804 Connecticut housing units received a foreclosure filing during the month.

 

Windham County leads the state in foreclosure rate for August

Windham County, where one in every 568 housing units received a foreclosure filing during the month, posted the top foreclosure rate in Connecticut. One in every 681 housing units received a foreclosure filing in New Haven County, for the second highest rate in the state. Coming in third was Hartford County, where one in every 791 housing units received a foreclosure filing in August. Fourth highest was New London County, where one in every 813 housing units received a foreclosure filing. Litchfield County came in fifth, with one in every 818 housing units receiving a foreclosure filing during the month.

 

New Haven County posts top foreclosure total for August

New Haven County led Connecticut in total foreclosure activity for August, reporting 514 properties with foreclosure filings. Hartford County documented the second highest foreclosure activity, where 461 properties with foreclosure filings were reported. Fairfield County came in third, tallying 363 properties with foreclosure filings. Fourth highest was New London County, where 144 properties with foreclosure filings were reported. Litchfield County came in fifth, reporting 102 properties with foreclosure filings for the month.

 

State a minor contributor to nation’s monthly foreclosure total

Connecticut accounted for 1 percent of the 338,836 properties with foreclosure filings reported nationwide in August. Total U.S. activity increased by more than 4 percent from the previous month, but was down more than 5 percent from the level reported in August 2009. One in every 381 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: Default Notice of Default (NOD) and Lis Pendens (LIS); Auction 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). If more than one foreclosure document is received for a property during the month, only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

 

Connecticut Top Foreclosure Rates By County – August 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

44,887

51,582

95,887

51,116

95,364

338,836

381

n/a

n/a

Connecticut

0

1,155

0

142

499

1,796

804

0.47

n/a

 

 

 

 

 

 

 

 

 

 

Windham

0

42

0

8

33

83

568

0.67

1.41

New Haven

0

336

0

37

141

514

681

0.56

1.18

Hartford

0

291

0

37

133

461

791

0.48

1.02

New London

0

92

0

9

43

144

813

0.47

0.99

Litchfield

0

54

0

9

39

102

818

0.47

0.98

 

 

Connecticut Top Foreclosure Totals by County – August 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg June 10

% Chg July 09

 

 

 

 

 

 

 

 

 

 

United States

44,887

51,582

95,887

51,116

95,364

338,836

381

4.18

-5.48

Connecticut

0

1,155

0

142

499

1,796

804

-22.55

-18.29

 

 

 

 

 

 

 

 

 

 

New Haven

0

336

0

37

141

514

681

-21.41

-10.92

Hartford

0

291

0

37

133

461

791

-2.95

-1.91

Fairfield

0

259

0

26

78

363

970

-36.76

-43.28

New London

0

92

0

9

43

144

813

-26.15

5.88

Litchfield

0

54

0

9

39

102

818

-32.89

-21.54

 

 

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved