NORTH CAROLINA FORECLOSURE ACTIVITY UP 4 PERCENT IN JANUARY

Foreclosure Activity Up 14 Percent From January 2007

 

IRVINE, Calif. – Feb. 26, 2008 – North Carolina reported 3,373 foreclosure filings in January, a 4 percent increase from the previous month, and a 14 percent increase from January 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 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 increase in foreclosures within the state,” said James J. Saccacio, chief executive officer of RealtyTrac.

 

North Carolina ranked 19th in the country in total foreclosures reported for January. The state’s foreclosure rate of one foreclosure filing for every 1,168 households ranked it 25th among the 50 states.

 

Mecklenburg County reports highest foreclosure total

Mecklenburg County led the state in total foreclosure filings in North Carolina for the month, reporting 555 foreclosure filings in January. Wake County posted the second highest foreclosure total, reporting 376 foreclosure filings. Guilford County had the third highest foreclosure total, reporting 266 foreclosure filings for the month.

 

Gaston County posts highest foreclosure rate

Gaston County posted the highest foreclosure rate in North Carolina for January, one foreclosure filing for every 561 households — 2.1 times the state average. Durham County registered the second highest foreclosure rate, one foreclosure filing for every 565 households — 2.1 times the state average. Cleveland County posted the third highest foreclosure rate, one foreclosure filing for every 581 households — twice the state average. Johnston County came in fourth with a foreclosure rate of one foreclosure filing for every 587 households.

 

State a minor contributor to nation’s total in January

Total foreclosure filings in North Carolina accounted for less than 2 percent of the 223,001 foreclosure filings reported nationwide in January. The national total represents an 8 percent increase from the previous month, and is 57 percent above the total reported for January 2007. The nation’s foreclosure rate increased to one foreclosure filing for every 534 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 – January 2008

 

County

NOD

NTS

NFS

LIS

REO

Total

Households per filing

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

52,321

60,101

19,662

55,590

45,327

233,001

534

n/a

n/a

North Carolina

2,532

112

0

0

729

3,373

1,168

0.46

n/a

 

 

 

 

 

 

 

 

 

 

Alamance

63

8

0

0

15

86

710

0.75

1.65

Alexander

5

0

0

0

1

6

2,502

0.21

0.47

Alleghany

0

0

0

0

0

0

 n/a

0.00

0.00

Anson

2

1

0

0

1

4

2,620

0.20

0.45

Ashe

2

0

0

0

1

3

4,886

0.11

0.24

Avery

1

0

0

0

0

1

12,926

0.04

0.09

Beaufort

0

1

0

0

0

1

23,273

0.02

0.05

Bertie

1

0

0

0

0

1

9,307

0.06

0.13

Bladen

1

0

0

0

2

3

5,279

0.10

0.22

Brunswick

35

0

0

0

12

47

1,375

0.39

0.85

Buncombe

57

0

0

0

8

65

1,588

0.34

0.74

Burke

0

1

0

0

0

1

38,922

0.01

0.03

Cabarrus

79

2

0

0

23

104

602

0.89

1.94

Caldwell

37

1

0

0

19

57

622

0.86

1.88

Camden

3

0

0

0

0

3

1,195

0.45

0.98

Carteret

5

0

0

0

3

8

5,528

0.10

0.21

Caswell

3

0

0

0

3

6

1,685

0.32

0.69

Catawba

32

2

0

0

14

48

1,369

0.39

0.85

Chatham

6

0

0

0

2

8

3,042

0.18

0.38

Cherokee

10

0

0

0

1

11

1,393

0.38

0.84

Chowan

0

0

0

0

0

0

 n/a

0.00

0.00

Clay

2

0

0

0

1

3

2,085

0.26

0.56

Cleveland

39

0

0

0

34

73

581

0.92

2.01

Columbus

5

0

0

0

5

10

2,469

0.22

0.47

Craven

22

1

0

0

6

29

1,456

0.37

0.80

Cumberland

146

3

0

0

33

182

707

0.76

1.65

Currituck

9

0

0

0

5

14

937

0.57

1.25

Dare

10

1

0

0

28

39

802

0.67

1.46

Davidson

33

3

0

0

9

45

1,487

0.36

0.79

Davie

0

0

0

0

0

0

 n/a

0.00

0.00

Duplin

4

0

0

0

0

4

5,325

0.10

0.22

Durham

164

5

0

0

27

196

565

0.95

2.07

Edgecombe

0

1

0

0

0

1

25,038

0.02

0.05

Forsyth

133

1

0

0

31

165

889

0.60

1.31

Franklin

15

1

0

0

6

22

1,034

0.52

1.13

Gaston

128

1

0

0

22

151

561

0.95

2.08

Gates

3

1

0

0

2

6

751

0.71

1.56

Graham

0

0

0

0

0

0

 n/a

0.00

0.00

Granville

6

0

0

0

0

6

3,400

0.16

0.34

Greene

0

0

0

0

0

0

 n/a

0.00

0.00

Guilford

200

11

0

0

55

266

751

0.71

1.55

Halifax

2

0

0

0

7

9

2,878

0.19

0.41

Harnett

20

2

0

0

7

29

1,480

0.36

0.79

Haywood

10

1

0

0

5

16

1,931

0.28

0.61

Henderson

2

0

0

0

4

6

7,964

0.07

0.15

Hertford

1

1

0

0

5

7

1,419

0.38

0.82

Hoke

1

0

0

0

0

1

14,674

0.04

0.08

Hyde

0

0

0

0

0

0

 n/a

0.00

0.00

Iredell

41

1

0

0

12

54

1,150

0.46

1.02

Jackson

4

0

0

0

0

4

5,576

0.10

0.21

Johnston

69

5

0

0

26

100

587

0.91

1.99

Jones

2

0

0

0

1

3

1,579

0.34

0.74

Lee

13

1

0

0

10

24

899

0.59

1.30

Lenoir

0

0

0

0

0

0

 n/a

0.00

0.00

Lincoln

0

1

0

0

5

6

4,920

0.11

0.24

Macon

0

0

0

0

0

0

 n/a

0.00

0.00

Madison

0

0

0

0

0

0

 n/a

0.00

0.00

Martin

1

0

0

0

5

6

3,220

0.17

0.36

McDowell

0

0

0

0

1

1

22,549

0.02

0.05

Mecklenburg

435

17

0

0

103

555

643

0.83

1.82

Mitchell

0

0

0

0

0

0

 n/a

0.00

0.00

Montgomery

3

0

0

0

0

3

4,895

0.11

0.24

Moore

12

0

0

0

7

19

2,047

0.26

0.57

Nash

26

3

0

0

9

38

1,053

0.51

1.11

New Hanover

75

1

0

0

6

82

1,130

0.47

1.03

Northampton

0

0

0

0

0

0

 n/a

0.00

0.00

Onslow

0

1

0

0

0

1

62,017

0.01

0.02

Orange

0

0

0

0

0

0

 n/a

0.00

0.00

Pamlico

0

0

0

0

0

0

 n/a

0.00

0.00

Pasquotank

0

1

0

0

0

1

15,353

0.03

0.08

Pender

5

1

0

0

6

12

1,959

0.27

0.60

Perquimans

5

0

0

0

1

6

1,079

0.50

1.08

Person

4

0

0

0

1

5

3,324

0.16

0.35

Pitt

0

1

0

0

0

1

67,726

0.01

0.02

Polk

1

0

0

0

4

5

2,003

0.27

0.58

Randolph

26

0

0

0

12

38

1,537

0.35

0.76

Richmond

1

0

0

0

3

4

5,334

0.10

0.22

Robeson

8

3

0

0

0

11

4,513

0.12

0.26

Rockingham

27

0

0

0

12

39

1,080

0.49

1.08

Rowan

22

3

0

0

12

37

1,563

0.34

0.75

Rutherford

4

0

0

0

6

10

3,111

0.17

0.38

Sampson

6

1

0

0

3

10

2,599

0.21

0.45

Scotland

1

0

0

0

2

3

5,073

0.11

0.23

Stanly

0

0

0

0

0

0

 n/a

0.00

0.00

Stokes

0

2

0

0

3

5

4,035

0.13

0.29

Surry

0

1

0

0

0

1

32,158

0.02

0.04

Swain

1

0

0

0

1

2

3,912

0.14

0.30

Transylvania

0

1

0

0

0

1

16,788

0.03

0.07

Tyrrell

1

0

0

0

1

2

1,066

0.50

1.10

Union

61

1

0

0

7

69

868

0.62

1.35

Vance

5

0

0

0

9

14

1,349

0.40

0.87

Wake

324

12

0

0

40

376

836

0.64

1.40

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

3

0

0

0

0

3

8,665

0.06

0.13

Wayne

34

2

0

0

7

43

1,160

0.46

1.01

Wilkes

0

0

0

0

0

0

 n/a

0.00

0.00

Wilson

10

3

0

0

12

25

1,327

0.40

0.88

Yadkin

5

1

0

0

5

11

1,504

0.36

0.78

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

 

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