North Carolina Foreclosure Activity Down 16 Percent in 2009

Activity down 2 percent from 2007; up 9 percent from November

 

North Carolina ended 2009 tallying 28,384 properties with foreclosure filings, a 16 percent decrease from the total reported for 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The yearly total is 2 percent lower than the level reported for all of 2007.

 

North Carolina reported 3,569 properties with foreclosure filings, a 9 percent increase over the previous month, and up 39 percent from December 2008. The state’s foreclosure rate — one in every 1,156 housing units received a foreclosure filing — was 37th highest in the nation for the month.

 

“Even with an increase in December activity, North Carolina tallied far fewer foreclosure filings in 2009 than in 2008,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state’s most recent annual foreclosure tally is even lower than it was two years ago — a time when most Americans hadn’t even started thinking about a possible impending recession.”

 

With one in every 145 housing units receiving a foreclosure filing, North Carolina’s foreclosure rate ranked 37th highest in the nation for the year.

 

Mecklenburg County posts state’s highest foreclosure rate and total for 2009

Mecklenburg County posted the highest county foreclosure rate in North Carolina for the year, with one in every 50 housing units receiving a foreclosure filing in 2009. Guilford County had the second highest foreclosure rate, reporting one in every 69 housing units receiving a foreclosure filing. Forsyth County came in third highest, reporting one in every 71 housing units receiving a foreclosure filing. Wake County was fourth highest with one in every 90 housing units receiving a foreclosure filing. Alamance County had the fifth highest rate, where one in every 97 housing units receiving a foreclosure filing.

 

Mecklenburg County also led state in foreclosure activity in 2009

Mecklenburg County also led the state in total foreclosures, reporting 7,767 properties receiving a foreclosure filing. Wake County had the second highest total, documenting 3,783 properties with foreclosure filings. Guilford County had the third highest total in the state, reporting 3,046 properties with foreclosure filings for the year. Forsyth County was fourth highest, reporting 2,152 properties with foreclosure filings, followed by Durham County in fifth place, tallying 913 properties with foreclosure filings for all of 2009.

 

State a minor contributor to nation’s foreclosure total in 2009

North Carolina accounted for 1 percent of the 2,824,674 properties with foreclosure filings reported nationwide in 2009. Total U.S. activity increased more than 21 percent over the level reported for all of 2008. One in every 45 U.S. housing units received a foreclosure filing during the year.

 

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: Default Notice of Default (NOD) and Lis Pendens (LIS); Auction 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). If more than one foreclosure document is received for a property during the month, only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 

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

 

 

North Carolina Top Foreclosure Rates By County: Year-End 2009

 

County

Total Properties with Filings

% Housing Units

1/Every X HU

%Chg

from 2008

% Chg

from 2007

 

 

 

 

 

 

United States

2,824,674

2.21

45

21.21

119.67

North Carolina

28,384

0.69

145

-16.07

-2.46

 

 

 

 

 

 

Mecklenburg

7,767

1.99

50

17.03

20.38

Guilford

3,046

1.45

69

-3.12

27.39

Forsyth

2,152

1.41

71

5.03

25.33

Wake

3,783

1.11

90

4.85

23.06

Alamance

661

1.03

97

11.84

-0.15

 

 

North Carolina Top Foreclosure Totals by County: Year-End 2009

 

County

Total Properties with Filings

% Housing Units

1/Every X HU

% Chg  

from 2008

% Chg

from 2007

 

 

 

 

 

 

United States

2,824,674

2.21

45

21.21

119.67

North Carolina

28,384

0.69

145

-16.07

-2.46

 

 

 

 

 

 

Mecklenburg

7,767

1.99

50

17.03

20.38

Wake

3,783

1.11

90

4.85

23.06

Guilford

3,046

1.45

69

-3.12

27.39

Forsyth

2,152

1.41

71

5.03

25.33

Durham

913

0.79

127

-44.30

-34.46

 

 

North Carolina Top Foreclosure Rates By County – December 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

45,074

71,911

105,527

37,825

92,182

349,519

366

n/a

n/a

North Carolina

702

0

1,132

0

1,735

3,569

1,156

0.32

n/a

 

 

 

 

 

 

 

 

 

 

Mecklenburg

100

0

570

0

387

1,057

369

0.99

3.13

Forsyth

104

0

141

0

80

325

468

0.78

2.47

Wake

424

0

135

0

158

717

474

0.77

2.44

Guilford

58

0

177

0

103

338

621

0.59

1.86

Rowan

0

0

1

0

62

63

939

0.39

1.23

 

 

North Carolina Top Foreclosure Totals by County – December 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Nov 09

% Chg Dec 08

 

 

 

 

 

 

 

 

 

 

United States

45,074

71,911

105,527

37,825

92,182

349,519

366

13.99

15.20

North Carolina

702

0

1,132

0

1,735

3,569

1,156

9.04

38.66

 

 

 

 

 

 

 

 

 

 

Mecklenburg

100

0

570

0

387

1,057

61

17.84

161.63

Wake

424

0

135

0

158

717

21

44.85

246.38

Guilford

58

0

177

0

103

338

21

-14.86

7.30

Forsyth

104

0

141

0

80

325

32

14.04

78.57

Durham

0

0

2

0

110

112

136

115.38

220.00

 

 

 

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