While foreclosure activity is on the rise nationwide and in parts of New England, Massachusetts is seeing foreclosure activity decline.
According to data from The Warren Group, the publisher of Banker & Tradesman, there were 554 foreclosure filings in Massachusetts in April. This represents a 10.2 percent decrease year-over-year.
The state’s homeowners sit on huge amounts of equity, reports from real estate data firms say.
But Connecticut is among the top 10 in the nation when it comes to rates of foreclosure activity, according to a comparison of Warren Group data and a new report from Attom. One in every 3,168 housing units was foreclosed on, putting the state at ninth in the United States by foreclosure rates. The counties with the highest foreclosure rates were Windham, Litchfield, New Haven, Fairfield and Tolland, according to The Warren Group.
Nationwide in April, the U.S. housing market saw a continued annual increase in foreclosure activity with 36,033 properties filing for foreclosure, up 13.9 percent higher than a year ago, according to Attom. Additionally, foreclosure starts jumped 16.1 percent year-over-year.
“April’s foreclosure activity continued its gradual climb, with both starts and completions up annually,” Attom CEO Rob Barber said in a statement. “While volumes remain below historical norms, the year-over-year increases may suggest that some homeowners are beginning to feel the effects of persistent economic pressures.”