By James Lomuscio

Foreclosure activity in Westport appears to be on the rise over last year, according to data released by the Town’s Clerk’s Office. In the first seven and a half months of 2012, the foreclosure numbers are about equal to all of 2011.

As of Aug. 15, the number of foreclosures so far this year was seven, the same amount as it was for all of 2011. And the number of homes with pending litigation against them from lenders, a term called lis pendens, is 42 so far compared to 43 for all of 2011. Many are in the $1 million to $2 million range.

“So the activity has increased from 2011 to 2012,” said Town Clerk Patricia Strauss.

She added that while the jump is a cause for concern, the data is not as bad as it was for 2010 when there were 94 lis pendens and 20 foreclosures.

By Judy Szablak

Just a day after a report showed a steep decline in second quarter Fairfield County home prices, a new report out today shows nationally the first year-over-year monthly gain in home prices in almost two years.

This home at 7 Swallow Lane in the Saugatuck Shores area is listed for $975,000. (CLICK TO ENLARGE) Photo courtesy of William Raveis/ Westport.

The S&P/Case-Shiller report for June shows that nationally, prices have risen by the most in more than six years. The index of 20 major metropolitan areas showed home prices rose by 0.5 percent in June, compared with a year ago, to end a 20-month streak of declines.

Home prices are still down by almost 31 percent from their 2006 peak but have returned to mid-2003 levels.

Phoenix led other MSAs in the index, posting a gain of 13.9 percent, and 13 of the 20 cities in the index showed a year-over-year gain. However, the New York MSA was down 2.1 percent.