North Carolina Foreclosure Activity Trends Downward in May

Total foreclosure filings statewide decrease 16 percent from April

 

North Carolina foreclosure activity fell in May to 2,587 properties with foreclosure filings, a 16 percent decrease from the previous month, and 35 percent below the level reported in May 2008, according to RealtyTrac’s® latest U.S. Foreclosure Market Report.  

 

North Carolina foreclosures are down both in May and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “While the state’s unemployment rate continues to hover above the national average, laws past late last year requiring lenders to give distressed borrowers 45 days notice before filing any default notices seem to have had an impact on the number of foreclosures filed throughout the state.”

 

North Carolina ranked 26th in the country in total foreclosures reported in May. With one in every 1,595 housing units receiving a foreclosure filing, its foreclosure rate ranked 36th among the 50 states.

 

Five counties accounted for 68 percent of state’s foreclosure activity for May

Mecklenburg County led all other counties, reporting 701 properties with foreclosure filings for the month. Wake County posted the second highest total, where 379 properties with foreclosure filings were reported. Guilford County had the third highest total, reporting 284 properties with foreclosure filings, followed by Forsyth County, where 229 properties with foreclosure filings were tallied. Durham County held the fifth highest total, where 166 properties with foreclosure filings were reported for the month.

 

Mecklenburg County posts state’s highest foreclosure rate for May

Mecklenburg County posted the highest county foreclosure rate in the state, with one in every 557 housing units receiving a foreclosure filing in May. Edgecombe County had the second highest rate, with one in every 665 housing units receiving a foreclosure filing. Alamance County posted the third highest rate, where one in every 681 housing units received a foreclosure filing during the month.

 

State contributes 1 percent to nation’s foreclosure activity for May

Foreclosure activity in North Carolina represented 1 percent of the 321,480 properties with foreclosure filings reported nationwide in May. Total U.S. activity fell 6 percent from the previous month but was still nearly 18 percent ahead of May 2008. One in every 398 U.S. housing units 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 – May 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Apr 09

% Chg May 08

 

 

 

 

 

 

 

 

 

 

United States

55,442

67,687

100,578

32,756

65,017

321,480

398

– 6.01

17.76

North Carolina

463

0

1,078

0

1,046

2,587

1,595

-16.06

-34.98

 

 

 

 

 

 

 

 

 

 

Alamance

18

0

28

0

48

94

681

17.50

11.90

Alexander

0

0

0

0

0

0

 n/a

 n/a

-100.00

Alleghany

0

0

0

0

0

0

 n/a

 n/a

-100.00

Anson

0

0

0

0

0

0

 n/a

 n/a

-100.00

Ashe

0

0

0

0

0

0

 n/a

-100.00

-100.00

Avery

0

0

0

0

1

1

13,538

0.00

-66.67

Beaufort

3

0

11

0

0

14

1,688

 n/a

-12.50

Bertie

0

0

0

0

0

0

 n/a

 n/a

-100.00

Bladen

0

0

0

0

0

0

 n/a

 n/a

-100.00

Brunswick

0

0

0

0

19

19

3,843

 n/a

-58.70

Buncombe

0

0

0

0

14

14

7,664

40.00

-80.28

Burke

0

0

0

0

5

5

7,846

-16.67

66.67

Cabarrus

0

0

2

0

12

14

4,813

-48.15

-84.27

Caldwell

0

0

0

0

18

18

1,995

80.00

-35.71

Camden

0

0

0

0

0

0

 n/a

 n/a

-100.00

Carteret

0

0

0

0

0

0

 n/a

 n/a

-100.00

Caswell

0

0

0

0

1

1

10,186

0.00

-75.00

Catawba

0

0

1

0

11

12

5,577

-47.83

-81.25

Chatham

0

0

0

0

3

3

8,513

-75.00

-66.67

Cherokee

0

0

0

0

2

2

8,141

 n/a

-66.67

Chowan

0

0

0

0

0

0

 n/a

 n/a

 n/a

Clay

0

0

0

0

0

0

 n/a

 n/a

-100.00

Cleveland

0

0

0

0

7

7

6,127

-12.50

-77.42

Columbus

0

0

0

0

1

1

24,692

 n/a

-80.00

Craven

1

0

18

0

8

27

1,635

28.57

-28.95

Cumberland

0

0

3

0

33

36

3,751

-5.26

-80.95

Currituck

0

0

0

0

3

3

4,607

0.00

-75.00

Dare

0

0

0

0

2

2

16,179

-75.00

-86.67

Davidson

0

0

1

0

28

29

2,370

16.00

-84.15

Davie

0

0

0

0

2

2

8,681

-60.00

-94.87

Duplin

0

0

0

0

4

4

5,345

33.33

300.00

Durham

4

0

125

0

37

166

698

-20.95

-22.43

Edgecombe

0

0

1

0

0

1

25,179

0.00

-66.67

Forsyth

35

0

119

0

75

229

665

-17.33

16.24

Franklin

0

0

1

0

15

16

1,488

100.00

-36.00

Gaston

0

0

1

0

34

35

2,491

6.06

-79.29

Gates

0

0

1

0

0

1

4,597

 n/a

-85.71

Graham

0

0

0

0

0

0

 n/a

 n/a

 n/a

Granville

1

0

1

0

0

2

10,723

 n/a

-66.67

Greene

0

0

1

0

0

1

7,541

-80.00

 n/a

Guilford

74

0

147

0

63

284

740

-10.13

1.79

Halifax

0

0

0

0

2

2

12,995

 n/a

-71.43

Harnett

0

0

1

0

9

10

4,514

233.33

-78.26

Haywood

0

0

0

0

7

7

4,565

40.00

-22.22

Henderson

0

0

0

0

1

1

49,554

 n/a

-96.15

Hertford

0

0

0

0

0

0

 n/a

 n/a

-100.00

Hoke

0

0

0

0

0

0

 n/a

 n/a

-100.00

Hyde

0

0

0

0

0

0

 n/a

 n/a

-100.00

Iredell

0

0

0

0

11

11

6,044

-75.00

-64.52

Jackson

0

0

0

0

2

2

11,864

-50.00

-50.00

Johnston

1

0

0

0

39

40

1,555

60.00

-54.02

Jones

0

0

0

0

0

0

 n/a

 n/a

-100.00

Lee

0

0

0

0

5

5

4,689

400.00

-44.44

Lenoir

1

0

15

0

0

16

1,747

14.29

33.33

Lincoln

0

0

0

0

16

16

1,926

-5.88

-51.52

Macon

0

0

0

0

0

0

 n/a

 n/a

 n/a

Madison

0

0

0

0

0

0

 n/a

 n/a

 n/a

Martin

0

0

1

0

0

1

11,108

0.00

-75.00

McDowell

0

0

0

0

0

0

 n/a

 n/a

-100.00

Mecklenburg

92

0

405

0

204

701

557

-23.72

-9.78

Mitchell

0

0

0

0

0

0

 n/a

 n/a

-100.00

Montgomery

0

0

0

0

0

0

 n/a

-100.00

-100.00

Moore

0

0

0

0

6

6

6,793

500.00

-57.14

Nash

0

0

0

0

21

21

1,949

133.33

-44.74

New Hanover

0

0

0

0

55

55

1,776

89.66

-9.84

Northampton

0

0

0

0

0

0

 n/a

 n/a

-100.00

Onslow

0

0

1

0

18

19

3,454

5.56

-24.00

Orange

0

0

3

0

4

7

7,835

-78.13

-65.00

Pamlico

0

0

0

0

0

0

 n/a

 n/a

-100.00

Pasquotank

0

0

0

0

0

0

 n/a

 n/a

-100.00

Pender

0

0

0

0

5

5

5,001

150.00

-54.55

Perquimans

0

0

0

0

0

0

 n/a

 n/a

-100.00

Person

0

0

0

0

3

3

5,653

50.00

-75.00

Pitt

10

0

36

0

11

57

1,263

39.02

46.15

Polk

0

0

0

0

0

0

 n/a

 n/a

 n/a

Randolph

1

0

7

0

4

12

4,964

-85.00

-81.25

Richmond

0

0

0

0

0

0

 n/a

 n/a

-100.00

Robeson

0

0

0

0

1

1

49,908

0.00

-80.00

Rockingham

1

0

30

0

15

46

928

411.11

21.05

Rowan

0

0

0

0

14

14

4,226

-53.33

-77.42

Rutherford

0

0

1

0

15

16

1,985

 n/a

14.29

Sampson

0

0

0

0

0

0

 n/a

 n/a

-100.00

Scotland

0

0

0

0

1

1

15,245

0.00

-75.00

Stanly

0

0

0

0

8

8

3,397

300.00

100.00

Stokes

0

0

1

0

1

2

10,229

-50.00

-81.82

Surry

0

0

0

0

2

2

16,201

100.00

 n/a

Swain

0

0

0

0

0

0

 n/a

 n/a

-100.00

Transylvania

0

0

0

0

2

2

8,621

 n/a

0.00

Tyrrell

0

0

0

0

0

0

 n/a

 n/a

 n/a

Union

0

0

0

0

33

33

2,043

-38.89

-56.58

Vance

0

0

0

0

0

0

 n/a

 n/a

-100.00

Wake

199

0

107

0

73

379

896

-29.68

-1.56

Warren

0

0

0

0

0

0

 n/a

 n/a

 n/a

Washington

0

0

0

0

0

0

 n/a

 n/a

-100.00

Watauga

0

0

0

0

1

1

27,096

0.00

-80.00

Wayne

22

0

9

0

8

39

1,299

-27.78

-11.36

Wilkes

0

0

0

0

1

1

30,749

 n/a

-91.67

Wilson

0

0

0

0

1

1

33,941

0.00

-94.12

Yadkin

0

0

0

0

1

1

16,752

-80.00

-80.00

Yancey

0

0

0

0

0

0

 n/a

 n/a

-100.00

 

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