Connecticut foreclosures down 21.2 percent in July

By Kevin Zimmerman

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Foreclosures in Connecticut fell by 21.2 percent in July compared with the same time last year, according to property information and analytics firm CoreLogic.

Completed foreclosures for July 2016 were 2,385. The inventory rate in Connecticut was 1.5 percent.

The figures compared favorably with national figures, which CoreLogic said decreased by 29 percent; completed foreclosures nationwide fell by 16.5 percent to 34,000, compared with July 2015’s 41,000. The number of completed foreclosures peaked at 118,009 in Sept. 2010.

“Loan modifications, foreclosures and stronger housing and labor markets have each played a role in bringing the foreclosure rate to the lowest level in nine years,” said Frank Nothaft, chief economist for CoreLogic.

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