Connecticut Foreclosures Up in 2010

Foreclosure filings rise 10 percent from 2009

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 21,705 Connecticut properties for 2010, up 10 percent from a year ago, but still 1 percent below the level reported for 2008, according to the RealtyTrac® Year-End 2010 U.S. Foreclosure Market Report™.

 

Foreclosure filings were reported on 1,120 Connecticut properties in December 2010, a 7 percent increase from November, but still 54 percent below the level reported in December 2009. One in every 1,288 Connecticut housing units received a foreclosure filing during the month.

 

“Connecticut foreclosure activity rose between 2009 and 2010, though it remained slightly below what was reported for 2008,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment within the state remained historically high at 9 percent, leaving many struggling residents uneasy going into 2011.”

 

One in every 66 Connecticut housing units received a foreclosure filing in 2010, the 22nd highest state foreclosure rate in the nation for the year.

 

Windham County posts state’s top foreclosure rate in 2010

Windham County posted the highest foreclosure rate in Connecticut in 2010, with one in every 52 housing units receiving a foreclosure filing. New Haven County came in second, with one in every 58 housing units receiving a foreclosure filing in 2010. The next highest was Fairfield County, where one in every 61 housing units received a foreclosure filings during the year.

 

New Haven County led the state in foreclosure activity in 2010

New Haven County led Connecticut in foreclosure activity, reporting 6,068 properties with foreclosure filings. Fairfield County had the second highest total, with 5,777 properties with foreclosure filings. Hartford County was third highest, reporting 4,691 properties with foreclosure filings for the year. New London County came in fourth, tallying 1,547 properties with foreclosure filings. Fifth highest total for the year was in Litchfield County, where 1,291 properties with foreclosure filings were reported.

 

State a minor contributor to total foreclosure activity in 2010

Connecticut accounted for 1 percent of the 2,871,891 properties with foreclosure filings reported nationwide for 2010. Total U.S. activity increased by almost 2 percent from 2009, and was more than 23 percent above the level reported in 2008. One in every 45 U.S. housing units received a foreclosure filing during the year.

 

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: Year-End 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

223,094

538,099

759,560

312,085

1,039,053

2,871,891

45

n/a

n/a

Connecticut

0

13,992

0

1,155

6,558

21,705

66

0.68

n/a

 

 

 

 

 

 

 

 

 

 

Windham

0

536

0

37

338

911

52

0.87

1.28

New Haven

0

3,770

0

296

2,002

6,068

58

0.78

1.15

Fairfield

0

4,007

0

256

1,514

5,777

61

0.74

1.09

Litchfield

0

787

0

90

414

1,291

65

0.70

1.03

New London

0

962

0

85

500

1,547

76

0.59

0.88

 

 

Connecticut Top Foreclosure Totals by County: Year-End 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg 2009

% Chg 2008

 

 

 

 

 

 

 

 

 

 

United States

223,094

538,099

759,560

312,085

1,039,053

2,871,891

45

1.67

23.23

Connecticut

0

13,992

0

1,155

6,558

21,705

66

10.30

-1.00

 

 

 

 

 

 

 

 

 

 

New Haven

0

3,770

0

296

2,002

6,068

58

7.72

-3.90

Fairfield

0

4,007

0

256

1,514

5,777

61

7.76

-1.65

Hartford

0

2,995

0

290

1,406

4,691

78

9.09

-6.25

New London

0

962

0

85

500

1,547

76

16.67

2.38

Litchfield

0

787

0

90

414

1,291

65

21.56

20.09

 

 

 

Connecticut Top Foreclosure Rates By County: December 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

36,935

38,783

88,483

23,699

69,847

257,747

501

n/a

n/a

Connecticut

0

496

0

73

551

1,120

1,288

0.39

n/a

 

 

 

 

 

 

 

 

 

 

Windham

0

27

0

2

30

59

799

0.63

1.61

New Haven

0

127

0

13

153

293

1,194

0.42

1.08

New London

0

50

0

3

44

97

1,207

0.41

1.07

Fairfield

0

123

0

21

141

285

1,235

0.41

1.04

Litchfield

0

23

0

6

36

65

1,283

0.39

1.00

 

 

Connecticut Top Foreclosure Totals by County: December 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Nov 10

% Chg Dec 09

 

 

 

 

 

 

 

 

 

 

United States

36,935

38,783

88,483

23,699

69,847

257,747

501

-1.75

-26.26

Connecticut

0

496

0

73

551

1,120

1,288

6.67

-53.81

 

 

 

 

 

 

 

 

 

 

New Haven

0

127

0

13

153

293

1,194

0.00

-59.08

Fairfield

0

123

0

21

141

285

1,235

9.62

-56.55

Hartford

0

115

0

21

120

256

1,424

6.67

-47.00

New London

0

50

0

3

44

97

1,207

61.67

-42.26

Litchfield

0

23

0

6

36

65

1,283

-9.72

-58.60

 

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