NORTH CAROLINA FORECLOSURE ACTIVITY DECREASES 2 PERCENT IN JULY

ACCORDING TO REALTYTRAC® U.S. FORECLOSURE MARKET REPORT

 

Yearly Total Up 12 Percent From July 2006

 

IRVINE, Calif. – Aug. 24, 2007 – North Carolina reported 1,899 foreclosure filings in July, a 2 percent decrease from the previous month, but still a 12 percent increase from July 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1 million properties from nearly 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.

 

“Although North Carolina foreclosures decreased slightly in July, the numbers are still up from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that the state’s unemployment rate for the month was above that of the national average. This may be contributing to the overall rise.”

 

North Carolina ranked 21st in the country in total foreclosures reported for the month. The state’s foreclosure rate of one foreclosure filing for every 2,075 households ranked it 27th among the 50 states.

 

Five counties account for bulk of state activity

Total foreclosure filings in five North Carolina counties accounted for 53 percent of the state’s activity in July. Mecklenburg County reported 480 foreclosure filings, the most of any county for the month. Wake County was second, reporting 236 foreclosure filings for the month. Gaston County reported the third highest county total, with 98 foreclosure filings, followed by fourth place Durham County, with 97 foreclosure filings entering the foreclosure pipeline. Forsyth County reported the fifth highest total with 91 foreclosure filings.

 

Mecklenburg County post highest foreclosure rate

Mecklenburg County reported the highest county foreclosure rate in the state for July, with a rate of one foreclosure filing for every 744 households — 2.8 times the state average. Alamance County posted the second highest foreclosure rate, with one foreclosure filing for every 803 households — 2.6 times the state average. Gaston County posted the third highest foreclosure rate, with one foreclosure filing for every 865 households — 2.4 times the state average. Cleveland County came in fourth with a foreclosure rate of one foreclosure filing for every 963 households — 2.2 times the state average. Johnston County rounded out the state’s top five, with a rate of one foreclosure filing for every 978 households — 2.1 times the state average.

 

State contributes 1 percent to nation’s monthly total

Total foreclosure filings in North Carolina accounted for 1 percent of the 179,599 foreclosure filings nationwide in July. The national total was up 9 percent from the previous month and up 93 percent from July 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 693 U.S. households for the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of foreclosure filings — both nationwide and by state — over the preceding month. RealtyTrac’s report includes properties in all three phases of foreclosure: Defaults — Notice of Default (NOD) and Lis Pendens (LIS); Auctions — Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank).

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

 

                   North Carolina Foreclosure Market by County – July 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

36,741

57,327

23,136

35,553

26,842

179,599

693

n/a

n/a

North Carolina

1,221

165

0

0

513

1,899

2,075

0.33

n/a

 

 

 

 

 

 

 

 

 

 

Alamance

57

5

0

0

14

76

803

0.86

2.58

Alexander

0

1

0

0

1

2

7,507

0.09

0.28

Alleghany

0

0

0

0

3

3

2,319

0.30

0.89

Anson

1

0

0

0

2

3

3,493

0.20

0.59

Ashe

7

1

0

0

5

13

1,127

0.61

1.84

Avery

0

0

0

0

1

1

12,926

0.05

0.16

Beaufort

0

0

0

0

0

0

n/a

0.00

0.00

Bertie

0

0

0

0

4

4

2,327

0.30

0.89

Bladen

1

0

0

0

2

3

5,279

0.13

0.39

Brunswick

10

1

0

0

5

16

4,040

0.17

0.51

Buncombe

19

3

0

0

5

27

3,824

0.18

0.54

Burke

0

0

0

0

1

1

38,922

0.02

0.05

Cabarrus

8

3

0

0

5

16

3,914

0.18

0.53

Caldwell

28

0

0

0

5

33

1,075

0.65

1.93

Camden

1

0

0

0

0

1

3,586

0.19

0.58

Carteret

6

0

0

0

1

7

6,301

0.11

0.33

Caswell

0

0

0

0

0

0

n/a

0.00

0.00

Catawba

10

2

0

0

15

27

2,434

0.28

0.85

Chatham

2

0

0

0

4

6

4,057

0.17

0.51

Cherokee

3

1

0

0

0

4

3,832

0.18

0.54

Clay

0

0

0

0

0

0

n/a

0.00

0.00

Cleveland

23

5

0

0

16

44

963

0.72

2.15

Columbus

4

4

0

0

1

9

2,743

0.25

0.76

Craven

6

0

0

0

9

15

2,815

0.25

0.74

Cumberland

48

8

0

0

28

84

1,527

0.45

1.36

Currituck

3

0

0

0

4

7

1,874

0.37

1.11

Dare

0

0

0

0

2

2

15,640

0.04

0.13

Davidson

1

2

0

0

0

3

22,303

0.03

0.09

Davie

1

0

0

0

0

1

16,665

0.04

0.12

Duplin

1

0

0

0

2

3

7,100

0.10

0.29

Durham

74

6

0

0

17

97

1,142

0.61

1.82

Edgecombe

1

2

0

0

0

3

8,346

0.08

0.25

Forsyth

57

7

0

0

27

91

1,613

0.43

1.29

Franklin

9

0

0

0

2

11

2,068

0.34

1.00

Gaston

68

7

0

0

23

98

865

0.80

2.40

Gates

1

0

0

0

0

1

4,506

0.15

0.46

Granville

1

1

0

0

0

2

10,200

0.07

0.20

Greene

0

0

0

0

0

0

n/a

0.00

0.00

Guilford

6

20

0

0

4

30

6,688

0.10

0.31

Halifax

2

1

0

0

3

6

4,316

0.16

0.48

Harnett

19

4

0

0

9

32

1,342

0.52

1.55

Haywood

8

0

0

0

3

11

,808

0.25

0.74

Henderson

0

1

0

0

0

1

47,781

0.01

0.04

Hertford

0

1

0

0

0

1

9,931

0.07

0.21

Hoke

0

2

0

0

3

5

2,935

0.24

0.71

Iredell

8

1

0

0

7

16

3,881

0.18

0.53

Jackson

0

0

0

0

1

1

22,303

0.03

0.09

Johnston

38

2

0

0

20

60

978

0.71

2.12

Jones

0

0

0

0

1

1

4,736

0.15

0.44

Lee

9

0

0

0

8

17

1,269

0.55

1.64

Lenoir

1

0

0

0

1

2

13,986

0.05

0.15

Lincoln

6

1

0

0

11

18

1,640

0.42

1.27

Macon

0

6

0

0

0

6

3,758

0.18

0.55

Madison

0

0

0

0

0

0

n/a

0.00

0.00

Martin

0

0

0

0

0

0

n/a

0.00

0.00

McDowell

1

0

0

0

4

5

3,864

0.18

0.54

Mecklenburg

381

20

0

0

79

480

744

0.93

2.79

Mitchell

0

0

0

0

1

1

8,218

0.08

0.25

Montgomery

0

0

0

0

0

0

n/a

0.00

0.00

Moore

8

1

0

0

2

11

3,836

0.20

0.59

Nash

20

4

0

0

4

28

1,430

0.48

1.45

New Hanover

28

3

0

0

5

36

2,575

0.27

0.81

Northampton

1

0

0

0

1

2

5,364

0.13

0.39

Onslow

1

0

0

0

0

1

62,017

0.01

0.03

Orange

0

0

0

0

0

0

n/a

0.00

0.00

Pamlico

0

0

0

0

0

0

n/a

0.00

0.00

Pasquotank

0

0

0

0

0

0

n/a

0.00

0.00

Pender

1

3

0

0

5

9

2,612

0.27

0.79

Perquimans

0

0

0

0

0

0

n/a

0.00

0.00

Person

0

0

0

0

3

3

5,541

0.13

0.37

Pitt

0

2

0

0

0

2

33,863

0.02

0.06

Polk

0

0

0

0

1

1

10,014

0.07

0.21

Randolph

1

0

0

0

19

20

2921

0.24

0.71

Richmond

0

0

0

0

0

0

n/a

0.00

0.00

Robeson

0

2

0

0

1

3

16,546

0.04

0.13

Rockingham

0

4

0

0

3

7

6,017

0.12

0.34

Rowan

3

1

0

0

21

25

2,314

0.30

0.90

Rutherford

4

1

0

0

1

6

5,185

0.13

0.40

Sampson

3

0

0

0

3

6

4,331

0.16

0.48

Scotland

5

0

0

0

1

6

2,537

0.27

0.82

Stanly

1

0

0

0

7

8

3,303

0.21

0.63

Stokes

3

0

0

0

3

6

3,363

0.21

0.62

Surry

1

0

0

0

2

3

10,719

0.06

0.19

Swain

0

0

0

0

0

0

n/a

0.00

0.00

Transylvania

0

0

0

0

0

0

n/a

0.00

0.00

Union

14

4

0

0

9

27

2,219

0.31

0.94

Vance

5

1

0

0

5

11

1,717

0.40

1.21

Wake

178

13

0

0

45

236

1,332

0.52

1.56

Warren

0

2

0

0

0

2

5,573

0.12

0.37

Watauga

0

0

0

0

0

0

n/a

0.00

0.00

Wayne

12

3

0

0

5

20

2,494

0.28

0.83

Wilkes

0

1

0

0

0

1

30,478

0.02

0.07

Wilson

2

2

0

0

8

12

2,765

0.25

0.75

Yadkin

0

0

0

0

0

0

n/a

0.00

0.00

Yancey

0

0

0

0

0

0

n/a

0.00

0.00

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastest growing private companies, RealtyTrac Inc. (www.realtytrac.com), is the leading online marketplace for foreclosure properties, providing all the resources that home seekers, investors and real estate agents need to locate, evaluate and buy properties below market value.

 

Founded in 1996, RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure, foreclosure, For Sale By Owner, resale and new homes, with more than 1.3 million properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts nearly 3 million unique visitors monthly and has been chosen to supply foreclosure data to MSN Real Estate, Yahoo! Real Estate and the Wall Street Journal’s Real Estate Journal. For more information, visit (www.realtytrac.com).

 

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

 

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