North Carolina Foreclosure Activity Down in November

Statewide filings fall 5 percent from October; up 17 from the previous year

 

North Carolina foreclosure activity fell in November to 3,273 properties with foreclosure filings, down 5 percent from the previous month, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The monthly total is 17 percent ahead of the level reported in November 2008.

 

“North Carolina foreclosures fell in November,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest decline was in default notices, which dropped 35 percent for the month. While the state’s unemployment rate is still above the national average, it headed downward during the month, and home sales are beginning to pick up. If these trends continue, we may see foreclosures continue to decline in the coming months.”

 

North Carolina ranked 22nd in the country in total foreclosures reported for the month. With one in every 1,260 housing units receiving a foreclosure filing, its foreclosure rate ranked 36th among the 50 states.

 

Mecklenburg County posts state’s highest foreclosure rate in November

Mecklenburg County posted the highest county foreclosure rate in the state for November, with one in every 435 housing units receiving a foreclosure filing — 2.9 times the state average. Alamance County had the second highest foreclosure rate, with one in every 471 housing units receiving a foreclosure filing — 2.7 times the state average. Guilford County came in third highest, with one in every 529 housing units receiving a foreclosure filing — 2.4 times the state average.

 

Mecklenburg County led state in total foreclosure filings for November

Mecklenburg County led all counties, totaling 897 properties with foreclosure filings for the month, with one in every 435 housing units receiving a foreclosure filing — 2.9 times the state average. Wake County was second highest, documenting 495 properties with foreclosure filings. Reporting 397 properties with foreclosure filings for the month, Guilford County had the third highest total in the state, while Forsyth County was fourth highest, reporting 285 properties with foreclosure filings for the month.

 

State contributed 1 percent to nation’s foreclosure total in November

North Carolina accounted for 1 percent of the 306,627 properties with foreclosure filings reported nationwide in November. Total U.S. activity declined nearly 8 percent from the previous month but was still 18 percent ahead of November 2008. One in every 417 U.S. housing units received a foreclosure filing during the month.

 

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: DefaultNotice 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 – November 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

44,757

69,413

81,843

33,913

76,701

306,627

417

n/a

n/a

North Carolina

405

0

1,321

0

1,547

3,273

1,260

0.33

n/a

 

 

 

 

 

 

 

 

 

 

Mecklenburg

77

0

546

0

274

897

435

0.96

2.90

Alamance

28

0

82

0

26

136

471

0.89

2.68

Guilford

38

0

217

0

142

397

529

0.79

2.38

Forsyth

61

0

128

0

96

285

534

0.78

2.36

Wake

178

0

171

0

146

495

686

0.61

1.84

 

 

 

North Carolina Top Foreclosure Totals by County – November 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Oct 09

% Chg Nov 08

 

 

 

 

 

 

 

 

 

 

United States

44,757

69,413

81,843

33,913

76,701

306,627

417

-7.72

18.35

North Carolina

405

0

1,321

0

1,547

3,273

1,260

-5.05

17.19

 

 

 

 

 

 

 

 

 

 

Mecklenburg

77

0

546

0

274

897

435

0.96

2.90

Wake

178

0

171

0

146

495

686

0.61

1.84

Guilford

38

0

217

0

142

397

529

0.79

2.38

Forsyth

61

0

128

0

96

285

534

0.78

2.36

Alamance

28

0

82

0

26

136

471

0.89

2.68

 

 

 

 

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