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    Tuesday, May 21, 2024

    Report: Conn. ranked fifth in home foreclosure activity in February

    Connecticut had the fifth highest home foreclosure rates in the country in February, according to a new report from real estate data firm ATTOM.

    The state's foreclosure rate last month was one in every 2,884 housing units, according to the report. South Carolina had the highest foreclosure rate of one in every 2,284 units.

    Nationwide, one in every 4,279 housing units had a foreclosure filing in February 2024. For the purposes of the ATTOM report, foreclosure filings include default notices, scheduled auctions, and bank repossessions.

    Nationwide, there were a total of 32,938 U.S. properties with foreclosure filings last month, an increase of 8 percent from February 2023. Rob Barber, ATTOM's chief executive officer, said the increase in foreclosure activity "hints at shifting dynamics within the housing market,"

    "These trends could signify evolving financial landscapes for homeowners, prompting adjustments in market strategies and lending practices.," Barber said.

    There are currently 86 foreclosed homes currently for sale in Connecticut, according to the real estate website Zillow. Municipalities have another 251 homes scheduled for foreclosure sales, according to data from the state's judicial branch.

    The three communities with the largest number of foreclosure sales listed on Monday were Bridgeport with 19, Hartford with 12 and 10 in Middletown.

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