State’s Activity Level Up 18 Percent From a Year Ago
IRVINE, Calif. – Dec. 11, 2006 – Connecticut reported 1,187 properties entering some stage of the foreclosure process in November, a 1 percent increase from the 1,175 properties reported in October, and an 18 percent gain from the 1,003 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 nearly 700,000 properties from more than 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. “Though the state’s foreclosure activity is only slightly up from last month, it is still well above the level seen last year.”
Connecticut ranked 21st in the country in total foreclosures reported for November. The state’s foreclosure rate of one new foreclosure filing for every 1,167 households — about eight-tenths of the national average — places it 15th among the 50 states.
Hartford and New Haven counties lead state in activity
Two counties accounted for 56 percent of all foreclosure activity in Connecticut for November. Hartford County led the state, reporting 337 properties entering some stage of the foreclosure process during the month. New Haven County registered the second highest total, reporting 326 properties in some stage of the foreclosure process for the month, followed by Fairfield County, reporting 229 properties entering some stage of the foreclosure process.
Windham County posts state’s top foreclosure rate
Windham County posted the top foreclosure rate in the state for November, one new foreclosure filing for every 916 households — 1.3 times the state average and barely above the national average. Next highest was New Haven County, reporting one new foreclosure filing for every 1,044 households — 1.1 times the state average and nine-tenths of the national average. The third highest rate in the state was found in Hartford County, which reported one new foreclosure filing for every 1,048 households — 1.1 times the state average and nine-tenths of the national average.
State total has little impact on national total
Connecticut accounted for less than 1 percent of the 120,334 properties entering some stage of foreclosure nationwide in November. The national total represents a 4 percent increase from the 115,568 foreclosures reported in October. The nation’s foreclosure rate increased to one new foreclosure filing for every 961 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 – November 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