NORTH CAROLINA FORECLOSURE ACTIVITY UP 24 PERCENT IN JULY

Foreclosure Activity Up 127 Percent From July 2007

 

IRVINE, Calif. – Aug. 29, 2008 – North Carolina reported 4,303 properties with foreclosure filings in July, a 24 percent increase from the previous month, and a 127 percent increase from July 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 foreclosures increased significantly in July and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that the state currently holds one of the top 10 unemployment rates in the county. This, in addition to the overall decline in the housing market, is likely contributing to the rise.”

 

North Carolina ranked 16th in the country in total foreclosures reported for July. With one in every 936 households receiving a foreclosure filing, North Carolinas foreclosure rate ranked 25th among the 50 states.

 

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

Five North Carolina counties accounted for 53 percent of all foreclosure activity in the state for July. Mecklenburg County reported the highest foreclosure total, reporting 952 properties with foreclosure filings. Wake County documented the second highest foreclosure total, reporting 472 properties with foreclosure filings. Guilford County reported the third highest foreclosure total, reporting 344 properties with foreclosure filings. Cumberland County reported the fourth highest foreclosure total, reporting 254 properties with foreclosure filings. Forsyth County came in fifth with 241 properties with foreclosure filings.

 

Mecklenburg County posts top foreclosure rate for July

Mecklenburg County tallied the highest county foreclosure rate in North Carolina for July, with one in every 389 households receiving a foreclosure filing for the month — 2.4 times the state average. Durham County posted the state’s second highest foreclosure rate, with one in every 509 households receiving a foreclosure filing during the month. Cumberland County posted the third highest rate in the state, where one in every 520 households received a foreclosure filing in July.

 

State contributes 2 percent to nation’s foreclosure total in July

North Carolina accounted for 2 percent of the 272,171 properties with foreclosure filings reported nationwide in July. The national total represents an increase of almost 8 percent from the previous month and is 55 percent ahead of the total reported for July 2007. One in every 464 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 – July 2008

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X  HH (rate)

/National Average

/State Average

 

 

 

United States

55,601

55,042

57,145

27,088

77,295

272,171

464

n/a

n/a

North Carolina

2,690

0

199

0

1,414

4,303

936

0.50

n/a

 

 

 

 

 

 

 

 

 

Alamance

39

0

3

0

30

72

865

0.54

1.08

Alexander

4

0

0

0

4

8

1,889

0.25

0.50

Alleghany

2

0

0

0

1

3

2,350

0.20

0.40

Anson

2

0

0

0

4

6

1,750

0.27

0.53

Ashe

6

0

0

0

2

8

1,868

0.25

0.50

Avery

3

0

0

0

1

4

3,298

0.14

0.28

Beaufort

0

0

2

0

0

2

11,751

0.04

0.08

Bertie

0

0

0

0

1

1

9,307

0.05

0.10

Bladen

0

0

0

0

2

2

7,934

0.06

0.12

Brunswick

50

0

2

0

10

62

1,113

0.42

0.84

Buncombe

46

0

1

0

15

62

1,701

0.27

0.55

Burke

0

0

0

0

0

0

 n/a

0.00

0.00

Cabarrus

50

0

1

0

15

66

985

0.47

0.95

Caldwell

10

0

2

0

19

31

1,152

0.40

0.81

Camden

2

0

0

0

0

2

1,858

0.25

0.50

Carteret

8

0

2

0

10

20

2,256

0.21

0.42

Caswell

0

0

1

0

3

4

2,537

0.18

0.37

Catawba

43

0

0

0

16

59

1,125

0.41

0.83

Chatham

7

0

0

0

3

10

2,499

0.19

0.37

Cherokee

6

0

0

0

4

10

1,580

0.29

0.59

Chowan

0

0

0

0

0

0

 n/a

0.00

0.00

Clay

2

0

0

0

1

3

2,158

0.22

0.43

Cleveland

15

0

6

0

10

31

1,379

0.34

0.68

Columbus

2

0

0

0

2

4

6,173

0.08

0.15

Craven

20

0

5

0

6

31

1,396

0.33

0.67

Cumberland

183

0

3

0

68

254

520

0.89

1.80

Currituck

3

0

0

0

5

8

1,695

0.27

0.55

Dare

0

0

0

0

1

1

31,944

0.01

0.03

Davidson

40

0

0

0

12

52

1,305

0.36

0.72

Davie

7

0

1

0

2

10

1,705

0.27

0.55

Duplin

0

0

1

0

8

9

2,373

0.20

0.39

Durham

146

0

2

0

74

222

509

0.91

1.84

Edgecombe

1

0

0

0

1

2

12,577

0.04

0.07

Forsyth

120

0

70

0

51

241

621

0.75

1.51

Franklin

11

0

0

0

26

37

628

0.74

1.49

Gaston

62

0

3

0

64

129

666

0.70

1.41

Gates

1

0

0

0

0

1

4,530

0.10

0.21

Graham

0

0

0

0

0

0

 n/a

0.00

0.00

Granville

1

0

0

0

0

1

20,977

0.02

0.04

Greene

0

0

2

0

0

2

3,773

0.12

0.25

Guilford

217

0

5

0

122

344

594

0.78

1.58

Halifax

6

0

1

0

3

10

2,590

0.18

0.36

Harnett

10

0

1

0

26

37

1,188

0.39

0.79

Haywood

8

0

0

0

8

16

1,956

0.24

0.48

Henderson

3

0

1

0

2

6

8,109

0.06

0.12

Hertford

5

0

0

0

0

5

1,988

0.23

0.47

Hoke

3

0

1

0

4

8

1,908

0.24

0.49

Hyde

0

0

0

0

0

0

 n/a

0.00

0.00

Iredell

49

0

1

0

17

67

961

0.48

0.97

Jackson

2

0

0

0

4

6

3,832

0.12

0.24

Johnston

31

0

2

0

24

57

1,060

0.44

0.88

Jones

1

0

0

0

1

2

2,363

0.20

0.40

Lee

11

0

0

0

5

16

1,377

0.34

0.68

Lenoir

2

0

5

0

2

9

3,108

0.15

0.30

Lincoln

22

0

1

0

4

27

1,116

0.42

0.84

Macon

0

0

0

0

0

0

 n/a

0.00

0.00

Madison

0

0

0

0

1

1

10,556

0.04

0.09

Martin

1

0

1

0

6

8

1,390

0.33

0.67

McDowell

5

0

1

0

1

7

2,784

0.17

0.34

Mecklenburg

644

0

9

0

299

952

389

1.19

2.41

Mitchell

0

0

0

0

2

2

4,129

0.11

0.23

Montgomery

0

0

0

0

3

3

4,915

0.09

0.19

Moore

5

0

0

0

6

11

3,623

0.13

0.26

Nash

13

0

0

0

14

27

1,499

0.31

0.62

New Hanover

65

0

2

0

31

98

978

0.47

0.96

Northampton

0

0

0

0

1

1

10,860

0.04

0.09

Onslow

3

0

0

0

19

22

2,897

0.16

0.32

Orange

41

0

1

0

12

54

1,007

0.46

0.93

Pamlico

1

0

0

0

1

2

3,611

0.13

0.26

Pasquotank

8

0

0

0

2

10

1,585

0.29

0.59

Pender

11

0

0

0

9

20

1,223

0.38

0.77

Perquimans

1

0

0

0

0

1

6,607

0.07

0.14

Person

6

0

0

0

4

10

1,680

0.28

0.56

Pitt

4

0

28

0

20

52

1,347

0.34

0.70

Polk

2

0

0

0

5

7

1,449

0.32

0.65

Randolph

18

0

2

0

12

32

1,846

0.25

0.51

Richmond

2

0

2

0

1

5

4,329

0.11

0.22

Robeson

14

0

2

0

0

16

3,114

0.15

0.30

Rockingham

37

0

1

0

20

58

731

0.63

1.28

Rowan

27

0

1

0

30

58

1,011

0.46

0.93

Rutherford

7

0

0

0

7

14

2,246

0.21

0.42

Sampson

1

0

0

0

9

10

2,610

0.18

0.36

Scotland

3

0

0

0

3

6

2,540

0.18

0.37

Stanly

12

0

1

0

7

20

1,341

0.35

0.70

Stokes

8

0

1

0

2

11

1,850

0.25

0.51

Surry

1

0

0

0

1

2

16,120

0.03

0.06

Swain

0

0

0

0

0

0

 n/a

0.00

0.00

Transylvania

1

0

0

0

0

1

17,061

0.03

0.05

Tyrrell

0

0

0

0

0

0

 n/a

0.00

0.00

Union

78

0

1

0

26

105

606

0.77

1.54

Vance

7

0

0

0

6

13

1,457

0.32

0.64

Wake

364

0

7

0

101

472

690

0.67

1.36

Warren

0

0

0

0

0

0

 n/a

0.00

0.00

Washington

0

0

0

0

0

0

 n/a

0.00

0.00

Watauga

4

0

0

0

3

7

3,795

0.12

0.25

Wayne

21

0

14

0

21

56

898

0.52

1.04

Wilkes

8

0

0

0

20

28

1,093

0.42

0.86

Wilson

3

0

0

0

10

13

2,578

0.18

0.36

Yadkin

2

0

0

0

6

8

2,077

0.22

0.45

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