CONNECTICUT FORECLOSURES INCREASE 70 PERCENT IN APRIL

Foreclosures Increase 68 Percent From a Year Ago

Hartford County Posts State’s Highest Foreclosure Rate

 

IRVINE, Calif. – May 31, 2006 – Connecticut reported 1,408 properties entering some stage of foreclosure in April, a 70 percent increase from the previous month and a 68 percent increase from the 840 foreclosures reported in April 2005, according to RealtyTrac’s April 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.

 

“Foreclosures in Connecticut have increased significantly in April and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac.  “Higher interest rates, combined with slow employment growth and home value appreciation are contributing to this rise.”

 

With one foreclosure filing for every 984 households (1.3 times the national average), Connecticut‘s foreclosure rate ranked 11th among the 50 states. Overall the state’s total accounted for 1.5 percent of the nation’s foreclosures, with 17 states reporting more filings for the month.

 

Hartford County reported 365 properties entering some stage of foreclosure, combined with New Haven County’s 359 properties and Fairfield County’s 325 properties accounted for the majority of the state’s foreclosure filings for the month. Reporting one foreclosure filing for every 568 households, Windham County had the highest foreclosure rate in the state (1.7 times the state average).

 

Nationwide a total of 91,168 properties entered some stage of foreclosure in April, a 10 percent decrease from the previous month but a 33 percent year-over-year increase from April 2005. This marked the second straight month of decreasing U.S. foreclosure activity. At one foreclosure filing for every 1,268 households, the national foreclosure rate for April was higher than for any month in 2005.

 

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 — April 2006

 

State Name

NOD

NTS

NFS

LIS

REO

Total

1 in every #households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

U.S.

21,244

38,238

2,833

9,071

19,782

91,168

1,268

Connecticut

1,380

21

0

0

7

1,408

984

1.29

 

 

 

 

 

 

 

 

 

 

Fairfield

320

5

0

0

0

325

1,044

1.21

0.94

Hartford

359

5

0

0

1

365

967

1.31

1.02

Litchfield

78

0

0

0

0

78

1,016

1.25

0.97

Middlesex

53

0

0

0

0

53

1,270

1.00

0.78

New Haven

344

9

0

0

6

359

948

1.34

1.04

New London

90

0

0

0

0

90

1,230

1.03

0.80

Tolland

63

0

0

0

0

63

819

1.55

1.20

Windham

73

2

0

0

0

75

586

2.16

1.68

 

 

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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