Connecticut Foreclosures

While it may not seem like much, Connecticut foreclosures has a rate of 0.144 percentile. Which is actually a fairly high number when you figure that there are so many people there. The unemployment rate is standing around seven percent so this has forced the foreclosure rate to increase exponentially. While things certainly are not bright for the folks of Connecticut, they have leveled out in comparison to the rest of the country and the foreclosure rate seems to be holding fairly steady from month to month. That being said there are still numerous people losing homes due to the current downward spiral in the housing market and that shows no signs of slowing but, thankfully at least here, it doesn’t look as if it is set to accelerate to any large degree either. This is good news to the ears of people living here in Connecticut and far better news than that in some the surrounding states where things are expected to worsen considerably. This does not mean that this area of the country is out of the woods as far as the mortgage crisis goes. It does however mean that folks there can take a brief and momentary breather from the horrible news crossing the country with regards to the housing market in general and the foreclosure market in general. There is still a long way to go and there are still many homes and properties on the market and more being added every day here in New England, but at the moment, things are not totally dismal despite the numbers. This is in part due to a job loss ratio of less than one percent between January of 2007 and December of 2008, which is quite good considering Rhode Island, has lost 5.5 percent on the job market.

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