NORTH CAROLINA FORECLOSURE ACTIVITY UP 19 PERCENT IN OCTOBER

Foreclosure Activity Up 146 Percent From October 2006

 

IRVINE, Calif. – Nov. 26, 2007 – North Carolina reported 4,025 foreclosure filings in October, a 19 percent increase from the previous month, and a 146 percent increase from October 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.

 

North Carolina’s unemployment rate continues to rise, as is evident from the state’s increased foreclosure activity,” said James J. Saccacio, chief executive officer of RealtyTrac.

 

North Carolina ranked 15th in the country in total foreclosures reported for October. The state’s foreclosure rate of one foreclosure filing for every 979 households ranked it 20th among the 50 states.

 

Mecklenburg County leads state in foreclosure activity

Mecklenburg County led the state in foreclosure activity, with 899 foreclosure filings for the month. Wake County reported the second highest foreclosure total, with 427 foreclosure filings. Guilford County posted the third highest foreclosure total, with 398 foreclosure filings. Cumberland County reported the fourth highest foreclosure total, with 224 foreclosure filings entering some part of the foreclosure pipeline.

 

Mecklenburg County posts highest foreclosure rate

Mecklenburg County tallied the highest foreclosure rate in North Carolina for October, with one foreclosure filing for every 397 households — 2.5 times the state average. Gaston County registered the second highest foreclosure rate, with one foreclosure filing for every 463 households — 2.1 times the state average. Person County came in third with a foreclosure rate of one foreclosure filing for every 504 households — 1.9 times the state average.

 

State makes contribution to national total

Total foreclosure filings in North Carolina accounted for 2 percent of the 224,451 foreclosure filings reported nationwide in October. The national total represents a 2 percent increase from the previous month, and is 94 percent above the total reported for October 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 555 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 – October 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

41,404

58,597

22,485

48,356

53,609

224,451

555

n/a

n/a

North Carolina

2,648

119

0

0

1,258

4,025

979

0.57

n/a

 

 

 

 

 

 

 

 

 

 

Alamance

73

0

0

0

36

109

560

0.99

1.75

Alexander

5

0

0

0

3

8

1,877

0.30

0.52

Alleghany

2

0

0

0

1

3

2,319

0.24

0.42

Anson

0

1

0

0

7

8

1,310

0.42

0.75

Ashe

1

0

0

0

0

1

14,657

0.04

0.07

Avery

3

0

0

0

0

3

4,309

0.13

0.23

Beaufort

0

0

0

0

0

0

n/a 

0.00

0.00

Bertie

0

1

0

0

7

8

1,163

0.48

0.84

Bladen

3

0

0

0

1

4

3,960

0.14

0.25

Brunswick

11

0

0

0

16

27

2,394

0.23

0.41

Buncombe

49

1

0

0

12

62

1,665

0.33

0.59

Burke

0

3

0

0

1

4

9,731

0.06

0.10

Cabarrus

51

0

0

0

25

76

824

0.67

1.19

Caldwell

20

2

0

0

10

32

1,108

0.50

0.88

Camden

2

0

0

0

0

2

1,793

0.31

0.55

Carteret

9

1

0

0

1

11

4,010

0.14

0.24

Caswell

0

1

0

0

2

3

3,369

0.16

0.29

Catawba

15

3

0

0

19

37

1,776

0.31

0.55

Chatham

6

0

0

0

5

11

2,213

0.25

0.44

Cherokee

3

0

0

0

3

6

2,555

0.22

0.38

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

2

0

0

8

15

2,826

0.20

0.35

Columbus

2

2

0

0

5

9

2,743

0.20

0.36

Craven

8

0

0

0

7

15

2,815

0.20

0.35

Cumberland

144

2

0

0

78

224

573

0.97

1.71

Currituck

1

0

0

0

4

5

2,624

0.21

0.37

Dare

0

1

0

0

1

2

15,640

0.04

0.06

Davidson

16

0

0

0

22

38

1,761

0.32

0.56

Davie

11

1

0

0

14

26

641

0.87

1.53

Duplin

1

0

0

0

2

3

7,100

0.08

0.14

Durham

148

6

0

0

40

194

571

0.97

1.71

Edgecombe

0

1

0

0

6

7

3,577

0.16

0.27

Forsyth

132

8

0

0

65

205

716

0.77

1.37

Franklin

15

0

0

0

20

35

650

0.85

1.51

Gaston

138

1

0

0

44

183

463

1.20

2.11

Gates

4

1

0

0

1

6

751

0.74

1.30

Graham

0

0

0

0

0

0

n/a 

0.00

0.00

Granville

0

0

0

0

1

1

20,399

0.03

0.05

Greene

0

0

0

0

0

0

n/a 

0.00

0.00

Guilford

270

13

0

0

115

398

504

1.10

1.94

Halifax

6

2

0

0

4

12

2,158

0.26

0.45

Harnett

23

6

0

0

11

40

1,073

0.52

0.91

Haywood

6

1

0

0

8

15

2,059

0.27

0.48

Henderson

0

0

0

0

3

3

15,927

0.03

0.06

Hertford

0

0

0

0

2

2

4,966

0.11

0.20

Hoke

7

1

0

0

2

10

1,467

0.38

0.67

Hyde

0

0

0

0

0

0

n/a 

0.00

0.00

Iredell

73

2

0

0

36

111

559

0.99

1.75

Jackson

4

0

0

0

0

4

5,576

0.10

0.18

Johnston

59

2

0

0

18

79

743

0.75

1.32

Jones

0

1

0

0

0

1

4,736

0.12

0.21

Lee

6

1

0

0

9

16

1,348

0.41

0.73

Lenoir

0

1

0

0

1

2

13,986

0.04

0.07

Lincoln

28

0

0

0

19

47

628

0.88

1.56

Macon

0

0

0

0

0

0

n/a 

0.00

0.00

Madison

3

0

0

0

2

5

2,091

0.27

0.47

Martin

1

0

0

0

2

3

3,708

0.15

0.26

McDowell

4

0

0

0

6

10

1,932

0.29

0.51

Mecklenburg

644

18

0

0

237

899

397

1.40

2.47

Mitchell

0

0

0

0

0

0

n/a 

0.00

0.00

Montgomery

0

1

0

0

1

2

7,343

0.08

0.13

Moore

7

0

0

0

0

7

5,556

0.10

0.18

Nash

30

0

0

0

12

42

953

0.58

1.03

New Hanover

34

2

0

0

3

39

2,377

0.23

0.41

Northampton

4

1

0

0

16

21

511

1.09

1.92

Onslow

0

2

0

0

1

3

20,672

0.03

0.05

Orange

0

0

0

0

3

3

17,831

0.03

0.05

Pamlico

0

0

0

0

0

0

n/a 

0.00

0.00

Pasquotank

5

0

0

0

2

7

2,193

0.25

0.45

Pender

14

0

0

0

7

21

1,119

0.50

0.87

Perquimans

2

0

0

0

1

3

2,157

0.26

0.45

Person

19

1

0

0

13

33

504

1.10

1.94

Pitt

0

5

0

0

1

6

11,288

0.05

0.09

Polk

7

0

0

0

5

12

835

0.66

1.17

Randolph

23

1

0

0

9

33

1,770

0.31

0.55

Richmond

2

0

0

0

5

7

3,048

0.18

0.32

Robeson

0

1

0

0

3

4

12,410

0.04

0.08

Rockingham

29

1

0

0

26

56

752

0.74

1.30

Rowan

9

2

0

0

17

28

2,066

0.27

0.47

Rutherford

3

0

0

0

4

7

4,444

0.12

0.22

Sampson

2

0

0

0

8

10

2,599

0.21

0.38

Scotland

1

0

0

0

8

9

1,691

0.33

0.58

Stanly

9

1

0

0

5

15

1,762

0.31

0.56

Stokes

8

0

0

0

5

13

1,552

0.36

0.63

Surry

0

0

0

0

2

2

16,079

0.03

0.06

Swain

0

0

0

0

1

1

7,823

0.07

0.13

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

44

3

0

0

11

58

1,033

0.54

0.95

Vance

4

0

0

0

11

15

1,259

0.44

0.78

Wake

340

6

0

0

81

427

736

0.75

1.33

Warren

1

0

0

0

0

1

11,145

0.05

0.09

Washington

3

2

0

0

2

7

891

0.62

1.10

Watauga

2

0

0

0

0

2

12,998

0.04

0.08

Wayne

20

3

0

0

15

38

1,313

0.42

0.75

Wilkes

1

0

0

0

17

18

1,693

0.33

0.58

Wilson

9

1

0

0

15

25

1,327

0.42

0.74

Yadkin

3

0

0

0

6

9

1,838

0.30

0.53

Yancey

1

0

0

0

0

1

10,307

0.05

0.09

 

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