Connecticut Foreclosure Activity Falls in October

Filings virtually unchanged from September

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 2,075 Connecticut properties in October, down fractionally from the previous month and down 10 percent from the level reported in October 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Foreclosure activity in Connecticut was practically unchanged in October from the previous month and well below the level reported for the same time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “While the state’s job market continues to suffer, its foreclosure activity is beginning to slow, possibly in reaction to the recent ‘robo-signing’ controversy which has forced some lenders to halt foreclosure proceedings until their processes are reviewed.”

 

One in every 695 Connecticut housing units received a foreclosure filing in October, the 26th highest state foreclosure rate in the nation.

 

Windham County posts state’s top foreclosure rate for October

One in every 403 housing units received a foreclosure filing in Windham County during October — on par with the national average and 1.7 times the state average, the highest county foreclosure rate in the state for the month. Fairfield County registered the second highest rate, with one in every 627 housing units receiving a foreclosure filing during the month — 1.1 times the state average. New Haven County was third highest, with one in every 666 housing units receiving a foreclosure filing — on par with the state average.

 

Fairfield County led the state in foreclosure activity during October

Fairfield County had the top foreclosure total of all Connecticut counties, reporting 561 properties with foreclosure filings for the month. New Haven County tallied the second highest foreclosure level in the state, reporting 525 properties with foreclosure filings. Third highest total was in Hartford County, where 458 properties with foreclosure filings were reported. Fourth highest was New London County, where 158 properties with foreclosure filings were reported. Windham County was fifth, tallying 117 properties with foreclosure filings. 

 

State a minor contributor to nation’s monthly foreclosure total

Connecticut accounted for 1 percent of the 332,172 properties with foreclosure filings reported nationwide in October. Total U.S. activity decreased by more than 4 percent from the previous month, and was down fractionally from the level reported in October 2009. One in every 389 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 – October 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

43,271

57,304

92,989

45,372

93,236

332,172

389

n/a

n/a

Connecticut

0

1,315

0

153

607

2,075

695

0.56

n/a

 

 

 

 

 

 

 

 

 

 

Windham

0

69

0

11

37

117

403

0.96

1.73

Fairfield

0

379

0

34

148

561

627

0.62

1.11

New Haven

0

315

0

30

180

525

666

0.58

1.04

New London

0

104

0

4

50

158

741

0.52

0.94

Litchfield

0

62

0

20

28

110

758

0.51

0.92

 

 

Connecticut Top Foreclosure Totals by County – October 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Sept 10

% Chg Oct 09

 

 

 

 

 

 

 

 

 

 

United States

43,271

57,304

92,989

45,372

93,236

332,172

389

-4.39

-0.04

Connecticut

0

1,315

0

153

607

2,075

695

-0.10

-10.02

 

 

 

 

 

 

 

 

 

 

Fairfield

0

379

0

34

148

561

627

18.35

-4.92

New Haven

0

315

0

30

180

525

666

-16.13

-25.74

Hartford

0

295

0

44

119

458

796

-2.97

-9.66

New London

0

104

0

4

50

158

741

-9.71

4.64

Windham

0

69

0

11

37

117

403

105.26

21.88

 

 

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