NORTH CAROLINA FORECLOSURE ACTIVITY DOWN 19 PERCENT IN MARCH

Statewide Foreclosure Filings Up 2 Percent From March 2007

 

IRVINE, Calif. – April 30, 2008 – North Carolina reported 3,298 properties with foreclosure filings in March, a 19 percent decrease from the previous month, but still a 2 percent increase from March 200707, 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 increased slightly from this time last year, they appear to be heading downward in March,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that the state’s home price appreciation rate was more than six times the national average last year. This may be contributing to the recent decline.”

 

North Carolina ranked 20th in the country in total foreclosures reported for the month. With one in every 1,222 households receiving a foreclosure filing, North Carolina’s foreclosure rate ranked 26th among the 50 states.

 

Top five counties responsible for a large bulk of state’s foreclosure activity

Five North Carolina counties accounted for 48 percent of all foreclosure activity in the state for March. Mecklenburg County reported the highest foreclosure total, reporting 736 properties with foreclosure filings. Wake County came in second, documenting 322 properties with foreclosure filings. Gaston County reported the third highest foreclosure total, reporting 189 properties with foreclosure filings. Fourth highest foreclosure total was documented in Durham County, where 174 properties with foreclosure filings were reported. Guilford County came in fifth, reporting 168 properties with foreclosure filings.

 

Gaston County posts top foreclosure rate for March

Gaston County tallied the highest county foreclosure rate in North Carolina in March, with one in every 455 households receiving a foreclosure filing for the month — 2.7 times the state average. Mecklenburg County posted the state’s second highest foreclosure rate, with one in every 503 households receiving a foreclosure filing during the month — 2.4 times the state average. Franklin County reported the third highest foreclosure rate in the state, where one in every 540 households received a foreclosure filing in March — 2.3 times the state average.

 

State accounts for 1 percent of nation’s total in March

Total foreclosure filings in North Carolina accounted for 1 percent of the 234,685 properties with foreclosure filings reported nationwide in March. The national total represents a 5 percent increase from the previous month and is 57 percent ahead of the total reported for March 2007. One in every 538 U.S. households received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac Monthly U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing reported during the month — broken out by type of filing at the county, state and national level. 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 filed against a property during the month — which is extremely rare — 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 Foreclosure Market by County – March 2008

 

County

NOD

LIS

NTS

NFS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

56,493

47,677

55,398

23,724

51,393

234,685

538

n/a

n/a

North Carolina

2,388

0

97

0

813

3,298

1,222

0.44

n/a

 

 

 

 

 

 

 

 

 

 

Alamance

27

0

2

0

24

53

1,175

0.46

1.04

Alexander

6

0

0

0

5

11

1,374

0.39

0.89

Alleghany

2

0

0

0

1

3

2,350

0.23

0.52

Anson

1

0

0

0

1

2

5,251

0.10

0.23

Ashe

4

0

0

0

0

4

3,737

0.14

0.33

Avery

2

0

0

0

0

2

6,596

0.08

0.19

Beaufort

0

0

1

0

0

1

23,502

0.02

0.05

Bertie

1

0

0

0

0

1

9,307

0.06

0.13

Bladen

2

0

0

0

1

3

5,289

0.10

0.23

Brunswick

26

0

2

0

6

34

2,029

0.27

0.60

Buncombe

20

0

0

0

10

30

3,514

0.15

0.35

Burke

0

0

0

0

1

1

39,056

0.01

0.03

Cabarrus

75

0

1

0

24

100

650

0.83

1.88

Caldwell

33

0

2

0

17

52

687

0.78

1.78

Camden

1

0

0

0

0

1

3,715

0.14

0.33

Carteret

17

0

0

0

1

18

2,506

0.21

0.49

Caswell

2

0

0

0

1

3

3,383

0.16

0.36

Catawba

18

0

2

0

26

46

1,443

0.37

0.85

Chatham

9

0

0

0

4

13

1,922

0.28

0.64

Cherokee

1

0

0

0

2

3

5,267

0.10

0.23

Chowan

0

0

0

0

0

0

 n/a

0.00

0.00

Clay

0

0

0

0

0

0

 n/a

0.00

0.00

Cleveland

5

0

2

0

9

16

2,671

0.20

0.46

Columbus

4

0

0

0

2

6

4,115

0.13

0.30

Craven

22

0

1

0

5

28

1,545

0.35

0.79

Cumberland

92

0

4

0

51

147

899

0.60

1.36

Currituck

9

0

0

0

11

20

678

0.79

1.80

Dare

2

0

0

0

6

8

3,993

0.13

0.31

Davidson

15

0

2

0

12

29

2,340

0.23

0.52

Davie

18

0

1

0

9

28

609

0.88

2.01

Duplin

0

0

1

0

2

3

7,118

0.08

0.17

Durham

138

0

4

0

32

174

650

0.83

1.88

Edgecombe

0

0

0

0

0

0

 n/a

0.00

0.00

Forsyth

116

0

2

0

20

138

1,084

0.50

1.13

Franklin

20

0

1

0

22

43

540

1.00

2.26

Gaston

152

0

5

0

32

189

455

1.18

2.69

Gates

1

0

0

0

2

3

1,510

0.36

0.81

Graham

0

0

0

0

0

0

 n/a

0.00

0.00

Granville

2

0

0

0

0

2

10,489

0.05

0.12

Greene

0

0

0

0

0

0

 n/a

0.00

0.00

Guilford

110

0

12

0

46

168

1,217

0.44

1.00

Halifax

5

0

1

0

5

11

2,354

0.23

0.52

Harnett

23

0

0

0

7

30

1,465

0.37

0.83

Haywood

6

0

1

0

3

10

3,130

0.17

0.39

Henderson

0

0

1

0

0

1

48,652

0.01

0.03

Hertford

4

0

1

0

0

5

1,988

0.27

0.61

Hoke

1

0

0

0

2

3

5,088

0.11

0.24

Hyde

0

0

0

0

0

0

 n/a

0.00

0.00

Iredell

50

0

1

0

21

72

895

0.60

1.37

Jackson

5

0

0

0

1

6

3,832

0.14

0.32

Johnston

77

0

0

0

19

96

629

0.86

1.94

Jones

1

0

0

0

1

2

2,363

0.23

0.52

Lee

8

0

0

0

10

18

1,224

0.44

1.00

Lenoir

0

0

1

0

0

1

27,972

0.02

0.04

Lincoln

28

0

0

0

10

38

793

0.68

1.54

Macon

0

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

0

0

0

0

2

2

5,559

0.10

0.22

McDowell

5

0

1

0

2

8

2,436

0.22

0.50

Mecklenburg

596

0

21

0

119

736

503

1.07

2.43

Mitchell

0

0

0

0

0

0

 n/a

0.00

0.00

Montgomery

2

0

0

0

0

2

7,373

0.07

0.17

Moore

7

0

0

0

3

10

3,985

0.14

0.31

Nash

23

0

1

0

15

39

1,038

0.52

1.18

New Hanover

42

0

1

0

7

50

1,917

0.28

0.64

Northampton

0

0

0

0

1

1

10,860

0.05

0.11

Onslow

0

0

1

0

0

1

63,741

0.01

0.02

Orange

0

0

0

0

0

0

 n/a

0.00

0.00

Pamlico

3

0

0

0

1

4

1,806

0.30

0.68

Pasquotank

0

0

0

0

0

0

 n/a

0.00

0.00

Pender

6

0

0

0

5

11

2,224

0.24

0.55

Perquimans

2

0

0

0

1

3

2,202

0.24

0.55

Person

3

0

0

0

8

11

1,527

0.35

0.80

Pitt

0

0

1

0

1

2

35,021

0.02

0.03

Polk

0

0

1

0

0

1

10,146

0.05

0.12

Randolph

41

0

2

0

16

59

1,001

0.54

1.22

Richmond

1

0

0

0

3

4

5,411

0.10

0.23

Robeson

8

0

2

0

1

11

4,529

0.12

0.27

Rockingham

24

0

0

0

15

39

1,088

0.49

1.12

Rowan

19

0

2

0

35

56

1,047

0.51

1.17

Rutherford

11

0

0

0

5

16

1,965

0.27

0.62

Sampson

3

0

2

0

6

11

2,373

0.23

0.51

Scotland

2

0

0

0

2

4

3,810

0.14

0.32

Stanly

31

0

0

0

9

40

670

0.80

1.82

Stokes

9

0

2

0

4

15

1,357

0.40

0.90

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

2

0

0

0

0

2

8,531

0.06

0.14

Tyrrell

1

0

0

0

2

3

715

0.75

1.71

Union

71

0

2

0

10

83

767

0.70

1.59

Vance

1

0

0

0

6

7

2,705

0.20

0.45

Wake

280

0

3

0

39

322

1,011

0.53

1.21

Warren

0

0

0

0

0

0

 n/a

0.00

0.00

Washington

0

0

0

0

1

1

6,234

0.09

0.20

Watauga

4

0

1

0

1

6

4,427

0.12

0.28

Wayne

20

0

1

0

13

34

1,480

0.36

0.83

Wilkes

6

0

1

0

4

11

2,781

0.19

0.44

Wilson

2

0

0

0

8

10

3,352

0.16

0.36

Yadkin

2

0

1

0

4

7

2,374

0.23

0.51

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

 

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved