NORTH CAROLINA FORECLOSURE ACTIVITY DOWN 18 PERCENT IN DECEMBER

Yearly Total Up 157 Percent From December 2006

 

IRVINE, Calif. – Jan. 25, 2008 – North Carolina reported 3,240 foreclosure filings in December, an 18 percent decrease from the previous month, but still up 157 percent from December 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 have increased since this time last year, December was the second straight monthly decline in the numbers since they reached their 2007 peak back in October,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state’s home prices continue to appreciate at a rate that is above the national average despite the fact that home sales have been declining and unemployment is up slightly.”

 

North Carolina ranked 17th in the country in total foreclosures for the month. The state’s foreclosure rate of one foreclosure filing for every 1,216 households ranked it 24th among the 50 states.

 

Top three counties account for largest share of state total

Three counties accounted for 39 percent of all foreclosure filings in North Carolina for December. Mecklenburg County reported the highest total for the month with 771 foreclosure filings. Wake County came in second with 291 foreclosure filings, followed by Guilford County with 214 filings. Durham County reported the state’s fourth highest total with 196 filings entering some state of the foreclosure pipeline during the month.

 

Highest foreclosure rate posted in Mecklenburg County for December

With a rate of one foreclosure filing for every 463 households — 2.6 times the state average and 1.3 times the national average — Mecklenburg County reported the highest county foreclosure rate in the state for December. Second highest rate was posted by Gaston County, one foreclosure filing for every 543 households – 2.2 times the state average and 1.1 times the national average. Durham County had the third highest rate, one filing for every 565 households – 2.2 times the state average and on par with the national average.

 

State a minor contributor to nation’s monthly total

Total foreclosure filings in North Carolina accounted for 2 percent of the 215,749 foreclosure filings reported nationwide in December. The national total represents a 7 percent increase from the previous month, and is 97 percent above the total reported for December 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 577 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 – December 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

46,182

54,280

18,488

47,945

48,854

215,749

577

n/a

n/a

North Carolina

2,398

68

0

0

774

3,240

1,216

0.47

n/a

 

 

 

 

 

 

 

 

 

 

Alamance

57

2

0

0

12

71

860

0.67

1.41

Alexander

1

0

0

0

0

1

15,014

0.04

0.08

Alleghany

0

0

0

0

1

1

6,956

0.08

0.17

Anson

6

1

0

0

4

11

953

0.61

1.28

Ashe

4

0

0

0

4

8

1,832

0.32

0.66

Avery

1

0

0

0

0

1

12,926

0.04

0.09

Beaufort

1

0

0

0

0

1

23,273

0.02

0.05

Bertie

1

0

0

0

2

3

3,102

0.19

0.39

Bladen

2

0

0

0

3

5

3,168

0.18

0.38

Brunswick

26

0

0

0

14

40

1,616

0.36

0.75

Buncombe

49

0

0

0

8

57

1,811

0.32

0.67

Burke

0

0

0

0

2

2

19,461

0.03

0.06

Cabarrus

68

0

0

0

17

85

737

0.78

1.65

Caldwell

34

1

0

0

10

45

788

0.73

1.54

Camden

4

0

0

0

1

5

717

0.80

1.70

Carteret

2

0

0

0

4

6

7,371

0.08

0.16

Caswell

3

1

0

0

2

6

1,685

0.34

0.72

Catawba

47

0

0

0

38

85

773

0.75

1.57

Chatham

5

0

0

0

0

5

4,868

0.12

0.25

Cherokee

3

0

0

0

0

3

5,109

0.11

0.24

Chowan

0

0

0

0

0

0

n/a

0.00

0.00

Clay

2

0

0

0

1

3

2,085

0.28

0.58

Cleveland

2

1

0

0

8

11

3,854

0.15

0.32

Columbus

3

1

0

0

0

4

6,171

0.09

0.20

Craven

17

0

0

0

9

26

1,624

0.36

0.75

Cumberland

77

1

0

0

39

117

1,100

0.52

1.11

Currituck

9

0

0

0

6

15

875

0.66

1.39

Dare

0

0

0

0

3

3

10,426

0.06

0.12

Davidson

37

0

0

0

22

59

1,134

0.51

1.07

Davie

0

0

0

0

0

0

n/a

0.00

0.00

Duplin

1

0

0

0

5

6

3,550

0.16

0.34

Durham

163

2

0

0

31

196

565

1.02

2.15

Edgecombe

0

2

0

0

0

2

12,519

0.05

0.10

Forsyth

97

3

0

0

39

139

1,056

0.55

1.15

Franklin

12

0

0

0

13

25

910

0.63

1.34

Gaston

119

3

0

0

34

156

543

1.06

2.24

Gates

0

0

0

0

0

0

n/a

0.00

0.00

Graham

0

0

0

0

0

0

n/a

0.00

0.00

Granville

0

0

0

0

0

0

n/a

0.00

0.00

Greene

0

0

0

0

0

0

n/a

0.00

0.00

Guilford

164

3

0

0

47

214

934

0.62

1.30

Halifax

5

3

0

0

5

13

1,992

0.29

0.61

Harnett

24

1

0

0

10

35

1,227

0.47

0.99

Haywood

12

0

0

0

2

14

2,206

0.26

0.55

Henderson

1

0

0

0

0

1

47,781

0.01

0.03

Hertford

1

0

0

0

0

1

9,931

0.06

0.12

Hoke

0

0

0

0

0

0

n/a

0.00

0.00

Hyde

0

0

0

0

0

0

n/a

0.00

0.00

Iredell

36

2

0

0

11

49

1,267

0.46

0.96

Jackson

3

0

0

0

1

4

5,576

0.10

0.22

Johnston

73

1

0

0

21

95

617

0.93

1.97

Jones

1

0

0

0

0

1

4,736

0.12

0.26

Lee

5

1

0

0

1

7

3,081

0.19

0.39

Lenoir

0

2

0

0

0

2

13,986

0.04

0.09

Lincoln

10

2

0

0

9

21

1,406

0.41

0.87

Macon

 

0

0

0

0

0

n/a

0.00

0.00

Madison

0

0

0

0

0

0

n/a

0.00

0.00

Martin

1

0

0

0

7

8

1,391

0.42

0.88

McDowell

3

0

0

0

4

7

2,760

0.21

0.44

Mecklenburg

636

13

0

0

122

771

463

1.25

2.63

Mitchell

0

0

0

0

0

0

n/a

0.00

0.00

Montgomery

4

0

0

0

6

10

1,469

0.39

0.83

Moore

3

0

0

0

8

11

3,536

0.16

0.34

Nash

18

0

0

0

9

27

1,483

0.39

0.82

New Hanover

48

1

0

0

6

55

1,685

0.34

0.72

Northampton

0

0

0

0

0

0

n/a

0.00

0.00

Onslow

0

0

0

0

1

1

62,017

0.01

0.02

Orange

14

1

0

0

2

17

3,147

0.18

0.39

Pamlico

1

0

0

0

4

5

1,429

0.40

0.85

Pasquotank

0

0

0

0

0

0

n/a

0.00

0.00

Pender

9

0

0

0

7

16

1,469

0.39

0.83

Perquimans

0

0

0

0

0

0

n/a

0.00

0.00

Person

6

2

0

0

8

16

1,039

0.56

1.17

Pitt

1

1

0

0

0

2

33,863

0.02

0.04

Polk

0

0

0

0

0

0

n/a

0.00

0.00

Randolph

38

3

0

0

16

57

1,025

0.56

1.19

Richmond

0

0

0

0

3

3

7,112

0.08

0.17

Robeson

0

1

0

0

0

1

49,638

0.01

0.02

Rockingham

37

1

0

0

11

49

860

0.67

1.41

Rowan

26

2

0

0

11

39

1,483

0.39

0.82

Rutherford

2

0

0

0

6

8

3,889

0.15

0.31

Sampson

7

1

0

0

4

12

2,165

0.27

0.56

Scotland

0

1

0

0

2

3

5,073

0.11

0.24

Stanly

10

0

0

0

4

14

1,887

0.31

0.64

Stokes

12

0

0

0

9

21

961

0.60

1.27

Surry

0

0

0

0

0

0

n/a

0.00

0.00

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

Tyrrell

0

0

0

0

0

0

n/a

0.00

0.00

Union

53

2

0

0

18

73

821

0.70

1.48

Vance

3

0

0

0

7

10

1,889

0.31

0.64

Wake

252

2

0

0

37

291

1,080

0.53

1.13

Warren

0

1

0

0

0

1

11,145

0.05

0.11

Washington

1

1

0

0

0

2

3,118

0.19

0.39

Watauga

5

0

0

0

0

5

5,199

0.11

0.23

Wayne

15

1

0

0

6

22

2,267

0.25

0.54

Wilkes

0

0

0

0

1

1

30,478

0.02

0.04

Wilson

4

0

0

0

13

17

1,951

0.30

0.62

Yadkin

1

1

0

0

3

5

3,308

0.17

0.37

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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