ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT
State’s Activity Level Up 6 Percent From a Year Ago
IRVINE, Calif. – Jan. 15, 2007 – Connecticut reported 1,074 properties entering some stage of the foreclosure process in December, a 10 percent decrease from the 1,187 properties reported in November, but still a 6 percent increase from the 1,012 properties reported for the same month last year, according to the RealtyTrac™ U.S. Foreclosure Market Report.
RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 700,000 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.
“Although Connecticut foreclosures decreased in December, the numbers are still higher than they were this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that home sales throughout the state fell more than 16 percent during the first three quarters of 2006. This has likely contributed to the overall rise in foreclosures.”
Connecticut ranked 20th in the country in total foreclosures reported for December. The state’s foreclosure rate of one new foreclosure filing for every 1,290 households ranks it 17th among the 50 states.
New Haven County accounts for largest share of state total
New Haven County reported the largest share of Connecticut’s foreclosures activity in December, with 280 properties entering some stage of the foreclosure process during the month. Hartford County reported the second highest total, with 273 properties entering some stage of the foreclosure process. Fairfield County held the third highest total, reporting 236 properties entering some stage of the foreclosure process.
Highest foreclosure rate found in Middlesex County
Middlesex County posted the state’s highest foreclosure rate for December, with one new foreclosure filing for every 874 households — 1.5 times the state average and 1.2 times the national average. Windham County reported the second highest foreclosure rate, with one new foreclosure filing for every 897 households — 1.4 times the state average and 1.2 times the national average. New Haven County documented the third highest foreclosure rate, with one new foreclosure filing for every 1,216 households for the month.
State contributes 1 percent to national total
Connecticut’s foreclosure activity accounted for 1 percent of the 109,652 properties entering some stage of foreclosure nationwide in December. The national total represents a 9 percent decrease from the 120,334 foreclosures reported in November. The nation’s foreclosure rate decreased to one new foreclosure filing for every 1,055 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).
For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.
Connecticut Foreclosure Market by County – December 2006
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 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