CONNECTICUT FORECLOSURES DECREASE 2 PERCENT IN JULY

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

State’s Activity Up 84 Percent From a Year Ago

 

IRVINE, Calif. – July 31, 2006 – Connecticut reported 1,038 properties entering some stage of the foreclosure process in July, a 2 percent decrease in activity from the 1,062 properties reported in June, but an 84 percent increase from the 563 properties reported for the same month last year, according to the RealtyTrac™ July 2006 U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with more than 600,000 properties from more than 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate, AOL Real Estate and Knight Ridder Online.

 

“Although Connecticut foreclosures decreased slightly in July, the state’s activity has increased significantly since this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “A slowing housing market and a decline in construction and manufacturing jobs are likely contributing to this overall increase.”

 

Connecticut ranked 21st in the nation for total foreclosures in July. The state’s foreclosure rate of one new foreclosure filing for every 1,335 households — 93 percent of the national average — ranks it 16th among the 50 states.

 

New Haven County Accounted for Largest Share of State Total

Leading the state in foreclosures for the month was New Haven County, reporting 303 properties entering some stage of the foreclosure process.  Fairfield County came in second, reporting 240 properties followed by Hartford County, reporting 238 properties entering some stage of the foreclosure process.  

 

Highest Foreclosure Rate Posted in Windham County

Windham County posted the state’s highest foreclosure rate in July, reporting one new foreclosure filing for every 999 households — 1.3 times the state average and 1.3 times the national average.  Reporting one new foreclosure filing for every 1,121 households – 1.2 times the state average – Tolland County had the second highest foreclosure rate.

 

State Accounts for 1.1 Percent of National Total

Connecticut‘s foreclosure activity accounted for 1.1 percent of the 92,845 properties entering some stage of the foreclosure process nationwide in July. The national total represents a 5 percent increase from the 88,194 foreclosures reported in June. The nation’s foreclosure rate increased to one new foreclosure filing for every 1,245 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: Pre-foreclosures — Notice of Default (NOD) and Lis Pendens (LIS); Foreclosures — 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).

 

 

                         Connecticut Foreclosure Market by County – July 2006

 

County Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

20,202

38,173

4,795

13,295

16,380

92,845

1,245

Connecticut

851

186

0

0

1

1,038

1,335

0.93

 

 

 

 

 

 

 

 

 

 

Fairfield

191

48

0

0

1

240

1,414

0.88

0.94

Hartford

184

54

0

0

0

238

1,483

0.84

0.90

Litchfield

55

15

0

0

0

70

1,132

1.10

1.18

Middlesex

38

17

0

0

0

55

1,223

1.02

1.09

New Haven

266

37

0

0

0

303

1,123

1.11

1.19

New London

41

1

0

0

0

42

2,635

0.47

0.51

Tolland

33

13

0

0

0

46

1,121

1.11

1.19

Windham

43

1

0

0

0

44

999

1.25

1.34

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, 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 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 AOL Real Estate, MSN Real Estate and Yahoo! Real Estate. 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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