January 10, 2017

CT foreclosures continue to slide

cooldesign, FreeDigitalPhotos.net
cooldesign, FreeDigitalPhotos.net
The number of homes in foreclosure in Connecticut continued its decline in November 2016.

Connecticut's foreclosure inventory declined by nearly 23 percent in November compared with a year earlier, somewhat less than the national trend of 30 percent, according to new data from CoreLogic.

The state's completed foreclosures declined 24.3 percent, from 5,092 in Nov. 2015 to 3,856 in Nov. 2016, the property analytics firm reported. That's also slightly under the national average of 25.9 percent.

The foreclosure inventory represents the number of homes at some stage of the foreclosure process. Completed foreclosures reflect the total number of homes lost to foreclosure.

Connecticut mortgages in serious delinquency declined by 22 percent, mirroring the national average of 22.1 percent from Nov. 2015 to Nov. 2016, with 1 million mortgages, or 2.5 percent, in serious delinquency, the lowest level since Aug. 2007.

Serious delinquency is defined as 90 days or more past due including loans in foreclosure or real-estate owned.

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