Click graph for larger version (source: Calculated Risk)

The rate of serious delinquencies on single-family homes, those that are 90 days or more behind, increased more than 2 percent between December 2008 and December 2009, up to 3.87 percent from 1.72 percent, according to the latest data from Freddie Mac. This figure may not, however, be as dramatic as it seems, according to Calculated Risk. Some of the loans counted in the report may be in trial modification programs and won’t be considered out of delinquency until they enter the permanent modification stage. [more]

Single-family home sales in Connecticut climbed for the second consecutive month in August, according to a report released today from the Warren Group, a real estate data tracking group. There were 2,644 Connecticut home sales in August, marking a 7 percent climb from the same time period in the previous year, the data shows. Timothy Warren, CEO of the Warren Group, said that while the data is a good indicator of market recovery, other economic concerns linger. “The gains in home sales for two consecutive months is a good boost for Connecticut’s housing market, especially since sales have been slumping since 2005,” Warren said. “However, unemployment and mortgage delinquencies remain a concern, and prices continue to erode from last year’s levels, evidence that the housing recovery will be slow.”
TRD

(Source: The Warren Group)