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Study: Connecticut Fares Well Compared to Nationwide Foreclosure Rates

National Housing Conference
 

None of Connecticut's Metro Areas rank in the top 100 areas for foreclosures, according to a new study by the National Housing Conference. The New Haven Metro area had the highest rate of foreclosure in Connecticut, followed by Norwich-New London, Bridgeport-Stamford-Norwalk, and Hartford-West Hartford-East Hartford, according to study, which analyzed foreclosure data from March 2011 from all 366 metro areas in the United States and ranked them from highest foreclosure rate to lowest.

New Haven came in at number 103 with a foreclosure rate of 5.6%. Norwich-New London’s rate was 5.1%, Bridgeport-Stamford-Norwalk’s 5.0% and Hartford-West Hartford-East Hartford was 3.9%. Nationwide, Connecticut fairs in the middle of the road compared to most states, with the Florida, Southern California experiencing foreclosure rates in excess of 15% and 11%, respectively. Additionally, many Midwestern cities, from northern Louisiana to St. Louis to  the Chicago area and Detroit experienced foreclosure rates in excess of 11%. Most western areas, in states like Arizona, new Mexico, Colorado, Nebraska, the Dakotas and Idaho, by comparison, had foreclosure rates between 0% and 10%.

Key nationwide findings of the study include:

  • Although the rate of serious mortgage delinquencies has been stabilizing in the vast majority of metropolitan areas, the foreclosure rate continues to rise.
  • Since the national peak in December 2009, just 12 of the country's 100 largest metro areas saw the serious delinquency rate increase.
  • High rates of serious delinquency and unemployment cause double trouble for some metro areas, particularly in Florida, California, and Nevada.

To Learn More:
Visit Foreclosure-Response.org
View Maps and Data Spreadsheets from the study

 

 
 

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