The inventory of mortgaged Connecticut homes that are somewhere in the foreclosure process continues to decline, as more foreclosures are completed, according to CoreLogic.
Connecticut’s foreclosure inventory was 2.1 percent in February, unchanged from the month before, but down from 3.2 percent in Feb. 2014, according to CoreLogic’s National Foreclosure Report released Tuesday.
A total of 5,239 foreclosures were completed in Connecticut over the past 12 months through February, up from 4,968 in the same period a year prior.
The state’s inventory is the lowest it’s been since at least Dec. 2012, though it is the eighth-highest in the country.
Part of the reason for that is that Connecticut is one of 25 judicial states, where foreclosures tend to take longer because lenders are required to prove delinquency to a court before issuing a notice of default to a borrower, according to CoreLogic.
