Connecticut foreclosure inventory and completed foreclosures dropped in October, as it did in much of the nation, CoreLogic reported Tuesday.
The property analytics firm released its national report for October, which shows foreclosure inventory declined on average by 31.5 percent nationwide and completed foreclosures declined by 24.9 percent compared with Oct. 2015.
In Connecticut, foreclosure inventory declined by 24.9 percent, while completed foreclosures dropped by 41 percent percent, from 5,343 to 3,793. The foreclosure inventory rate in Connecticut measured 1.4 percent, more than half a percent above the national average of eight tenths of a percent.
Foreclosure inventory represents the number of homes at some stage of the foreclosure process. Completed foreclosures reflect the total number of homes lost to foreclosure.
“Housing and labor markets improved over the past year, setting the stage for further declines in foreclosure rates across much of the nation,” said Anand Nallathambi, president and CEO of CoreLogic.
The serious delinquency rate in Connecticut measured 3.4 percent, a decline of 25.6 percent year over year.
New York and New Jersey posted the highest serious delinquency rates in the nation, at 5.1 percent and 5.7 percent, respectively, said Frank Nothaft, chief economist for CoreLogic.
