NORTH CAROLINA FORECLOSURE ACTIVITY DOWN 8 PERCENT IN JUNE

IRVINE, Calif. – July 28, 2008 – Foreclosure filings were reported on 3,465 North Carolina properties in June, an 8 percent decrease from the previous month, but still 78 percent above the level reported for June 2007, 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 1.5 million properties from over 2,200 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.

 

“North Carolina’s unemployment rate rose to 6 percent in June, marking the sixth consecutive month of heightened joblessness within the state and its highest level of unemployment since late 2003,” said James J. Saccacio, chief executive officer of RealtyTrac. “Not surprisingly, foreclosure activity within the state is also on the rise compared to this time last year.”

 

North Carolina ranked 17th in the country in total properties with foreclosure filings reported for June. One in every 1,163 North Carolina households received a foreclosure filing during the month, ranking 25th among the 50 states.

 

Mecklenburg County leads state in foreclosure activity for June

Mecklenburg County led North Carolina in foreclosure activity for June, reporting 602 properties with foreclosure filings. Wake County posted the second highest foreclosure total, reporting 390 properties with foreclosure filings. Guilford County registered the third highest foreclosure total, reporting 221 properties with foreclosure filings. Forsyth County came in fourth, reporting 191 properties with foreclosure filings, followed by Durham County, which reported 173 properties with foreclosure filings for the month.

 

Mitchell County posts state’s highest foreclosure rate in June

Mitchell County posted the highest foreclosure rate in North Carolina for June, with one in every 459 households receiving a foreclosure filing in June — 2.5 times the state average. Franklin County registered the second highest foreclosure rate, with one in every 505 households receiving a foreclosure filing — 2.3 times the state average. Camden County had the third highest foreclosure rate, with one in every 531 households receiving a foreclosure filing — 2.2 times the state average. Gaston County posted the fourth highest foreclosure rate, with one in every 537 households receiving a foreclosure filing. Mecklenburg County came in fifth place, with one in every 614 households receiving a foreclosure filing in June.

 

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

North Carolina accounted for 1 percent of the 252,363 properties with foreclosure filings reported nationwide in June. The national total represents a decrease of more than 3 percent from the previous month but is still 53 percent ahead of the total reported for June 2007. One in every 501 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 Data by County – June 2008

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HH (rate)

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

53,544

48,996

53,904

24,356

71,563

252,363

501

n/a

n/a

North Carolina

2,150

0

185

0

1,130

3,465

1,163

0.43

n/a

 

 

 

 

 

 

 

 

 

 

Alamance

30

0

3

0

30

63

989

0.51

1.18

Alexander

4

0

0

0

1

5

3,023

0.17

0.38

Alleghany

1

0

0

0

2

3

2,350

0.21

0.49

Anson

1

0

0

0

3

4

2,626

0.19

0.44

Ashe

0

0

0

0

2

2

7,474

0.07

0.16

Avery

0

0

0

0

0

0

n/a

0.00

0.00

Beaufort

2

0

3

0

0

5

4,700

0.11

0.25

Bertie

1

0

0

0

3

4

2,327

0.22

0.50

Bladen

1

0

1

0

2

4

3,967

0.13

0.29

Brunswick

22

0

1

0

8

31

2,226

0.22

0.52

Buncombe

77

0

1

0

13

91

1,159

0.43

1.00

Burke

0

0

1

0

2

3

13,019

0.04

0.09

Cabarrus

60

0

2

0

22

84

774

0.65

1.50

Caldwell

7

0

2

0

22

31

1,152

0.43

1.01

Camden

6

0

0

0

1

7

531

0.94

2.19

Carteret

6

0

0

0

6

12

3,759

0.13

0.31

Caswell

1

0

0

0

0

1

10,149

0.05

0.11

Catawba

27

0

0

0

34

61

1,088

0.46

1.07

Chatham

5

0

0

0

6

11

2,272

0.22

0.51

Cherokee

4

0

0

0

2

6

2,634

0.19

0.44

Chowan

0

0

0

0

0

0

n/a

0.00

0.00

Clay

1

0

0

0

1

2

3,238

0.15

0.36

Cleveland

15

0

0

0

21

36

1,187

0.42

0.98

Columbus

2

0

0

0

1

3

8,230

0.06

0.14

Craven

8

0

22

0

10

40

1,082

0.46

1.07

Cumberland

0

0

2

0

40

42

3,145

0.16

0.37

Currituck

3

0

1

0

6

10

1,356

0.37

0.86

Dare

5

0

1

0

15

21

1,521

0.33

0.76

Davidson

37

0

1

0

20

58

1,170

0.43

0.99

Davie

12

0

0

0

6

18

947

0.53

1.23

Duplin

0

0

2

0

4

6

3,559

0.14

0.33

Durham

124

0

2

0

47

173

654

0.77

1.78

Edgecombe

0

0

0

0

2

2

12,577

0.04

0.09

Forsyth

139

0

6

0

46

191

783

0.64

1.48

Franklin

13

0

1

0

32

46

505

0.99

2.30

Gaston

88

0

7

0

65

160

537

0.93

2.16

Gates

1

0

0

0

1

2

2,265

0.22

0.51

Graham

0

0

0

0

0

0

n/a

0.00

0.00

Granville

4

0

2

0

1

7

2,997

0.17

0.39

Greene

0

0

0

0

0

0

n/a

0.00

0.00

Guilford

141

0

11

0

69

221

925

0.54

1.26

Halifax

4

0

0

0

9

13

1,992

0.25

0.58

Harnett

8

0

0

0

18

26

1,690

0.30

0.69

Haywood

9

0

0

0

7

16

1,956

0.26

0.59

Henderson

0

0

0

0

1

1

48,652

0.01

0.02

Hertford

1

0

0

0

2

3

3,314

0.15

0.35

Hoke

3

0

1

0

2

6

2,544

0.20

0.46

Hyde

0

0

0

0

0

0

n/a

0.00

0.00

Iredell

42

0

4

0

23

69

934

0.54

1.25

Jackson

6

0

0

0

3

9

2,555

0.20

0.46

Johnston

36

0

2

0

15

53

1,140

0.44

1.02

Jones

2

0

0

0

3

5

945

0.53

1.23

Lee

10

0

0

0

1

11

2,003

0.25

0.58

Lenoir

0

0

4

0

3

7

3,996

0.13

0.29

Lincoln

10

0

3

0

6

19

1,586

0.32

0.73

Macon

0

0

0

0

0

0

n/a

0.00

0.00

Madison

3

0

0

0

2

5

2,111

0.24

0.55

Martin

2

0

1

0

6

9

1,235

0.41

0.94

McDowell

1

0

0

0

2

3

6,496

0.08

0.18

Mecklenburg

467

0

24

0

111

602

614

0.81

1.89

Mitchell

11

0

0

0

7

18

459

1.09

2.53

Montgomery

0

0

0

0

4

4

3,686

0.14

0.32

Moore

7

0

3

0

3

13

3,066

0.16

0.38

Nash

12

0

1

0

11

24

1,687

0.30

0.69

New Hanover

48

0

4

0

15

67

1,431

0.35

0.81

Northampton

0

0

0

0

4

4

2,715

0.18

0.43

Onslow

0

0

1

0

18

19

3,355

0.15

0.35

Orange

74

0

0

0

4

78

697

0.72

1.67

Pamlico

0

0

0

0

0

0

n/a

0.00

0.00

Pasquotank

11

0

2

0

4

17

932

0.54

1.25

Pender

15

0

0

0

10

25

979

0.51

1.19

Perquimans

4

0

0

0

0

4

1,652

0.30

0.70

Person

6

0

1

0

4

11

1,527

0.33

0.76

Pitt

7

0

34

0

7

48

1,459

0.34

0.80

Polk

2

0

0

0

0

2

5,073

0.10

0.23

Randolph

31

0

1

0

12

44

1,342

0.37

0.87

Richmond

0

0

0

0

1

1

21,643

0.02

0.05

Robeson

6

0

0

0

2

8

6,228

0.08

0.19

Rockingham

32

0

2

0

14

48

884

0.57

1.32

Rowan

46

0

1

0

22

69

850

0.59

1.37

Rutherford

6

0

0

0

9

15

2,096

0.24

0.55

Sampson

3

0

1

0

7

11

2,373

0.21

0.49

Scotland

2

0

1

0

5

8

1,905

0.26

0.61

Stanly

11

0

0

0

9

20

1,341

0.37

0.87

Stokes

7

0

1

0

6

14

1,454

0.34

0.80

Surry

0

0

1

0

2

3

10,746

0.05

0.11

Swain

1

0

0

0

0

1

7,934

0.06

0.15

Transylvania

1

0

0

0

1

2

8,531

0.06

0.14

Tyrrell

0

0

0

0

0

0

n/a

0.00

0.00

Union

46

0

3

0

29

78

816

0.61

1.42

Vance

3

0

0

0

5

8

2,367

0.21

0.49

Wake

270

0

6

0

114

390

835

0.60

1.39

Warren

0

0

0

0

0

0

n/a

0.00

0.00

Washington

0

0

0

0

1

1

6,234

0.08

0.19

Watauga

7

0

0

0

5

12

2,214

0.23

0.53

Wayne

18

0

9

0

18

45

1,118

0.45

1.04

Wilkes

0

0

0

0

2

2

15,298

0.03

0.08

Wilson

6

0

1

0

8

15

2,235

0.22

0.52

Yadkin

4

0

1

0

6

11

1,511

0.33

0.77

Yancey

1

0

0

0

1

2

5,215

0.10

0.22

 

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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