NORTH CAROLINA FORECLOSURE ACTIVITY UP 56 PERCENT IN APRIL

Foreclosure Activity Level Down 15 Percent From April 2008

 

IRVINE, Calif. – May 29, 2009 – Foreclosure filings were reported on 3,082 North Carolina properties in April, a 56 percent increase from the previous month, and 15 percent below the level reported for April 2008, 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.

 

“Foreclosure activity in North Carolina was up again in April, though it remained below the level reported a year ago,” said James J. Saccacio, chief executive officer of RealtyTrac. “Although North Carolina’s unemployment rate has doubled over the past year, temporary moratoriums on foreclosures have helped some struggling homeowners keep their homes.”

 

North Carolina ranked 23rd in the country in total properties with foreclosure filings for April. One in every 1,339 North Carolina housing units received a foreclosure filing during the month, the 34th highest state foreclosure rate in the nation.

 

Mecklenburg County leads state in foreclosure activity in April

Mecklenburg County led the state, reporting 919 properties with foreclosure filings for the month. Wake County reported 539 properties with foreclosure filings, the state’s second highest county total. Guilford County came in third highest, reporting 316 properties with foreclosure filings. Forsyth County came in fourth, documenting 277 properties with foreclosure filings, while the fifth highest total was in Durham County, where 210 properties with foreclosure filings were reported for the month.

 

Mecklenburg County post state’s top foreclosure rate in April

Mecklenburg County topped the list, with one in every 425 housing units receiving a foreclosure filing — 3.2 times the state average. Forsyth County had the second highest foreclosure rate, with one in every 550 housing units receiving a foreclosure filing — 2.4 times the state average. Durham County documented the third highest foreclosure rate, where one in every 552 housing units received a foreclosure filing during the month — 2.4 times the state average.

 

State a moderate contributor to nation’s foreclosure total in April

North Carolina accounted for 1 percent of the 342,038 properties with foreclosure filings reported nationwide in April. The national total represented a negligible increase in activity from the previous month but was still 32 percent ahead of the total reported for April 2008. One in every 374 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 – April 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Mar 09

% Chg Apr 08

 

 

 

 

 

 

 

 

 

 

United States

65,456

76,608

100,559

35,512

63,903

342,038

374

0.25

32.25

North Carolina

648

0

1,371

0

1,063

3,082

1,339

55.89

-14.91

 

 

 

 

 

 

 

 

 

 

Alamance

7

0

58

0

15

80

800

-25.93

33.33

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

-100.00

-100.00

Ashe

0

0

0

0

1

1

15,243

 n/a

-83.33

Avery

0

0

0

0

1

1

13,538

-75.00

0.00

Beaufort

0

0

0

0

0

0

 n/a

-100.00

 n/a

Bertie

0

0

0

0

0

0

 n/a

-100.00

-100.00

Bladen

0

0

0

0

0

0

 n/a

 n/a

-100.00

Brunswick

0

0

0

0

0

0

 n/a

-100.00

-100.00

Buncombe

0

0

0

0

10

10

10,730

-61.54

-86.49

Burke

0

0

0

0

6

6

6,538

-25.00

500.00

Cabarrus

0

0

1

0

26

27

2,496

-25.00

-67.86

Caldwell

0

0

2

0

8

10

3,592

-44.44

-52.38

Camden

0

0

0

0

0

0

 n/a

 n/a

 n/a

Carteret

0

0

0

0

0

0

 n/a

-100.00

 n/a

Caswell

0

0

1

0

0

1

10,186

-50.00

-83.33

Catawba

0

0

1

0

22

23

2,910

43.75

-66.18

Chatham

0

0

2

0

10

12

2,128

71.43

100.00

Cherokee

0

0

0

0

0

0

 n/a

 n/a

-100.00

Chowan

0

0

0

0

0

0

 n/a

 n/a

-100.00

Clay

0

0

0

0

0

0

 n/a

 n/a

-100.00

Cleveland

0

0

2

0

6

8

5,362

-77.78

-83.67

Columbus

0

0

0

0

0

0

 n/a

 n/a

-100.00

Craven

2

0

18

0

1

21

2,103

-12.50

-4.55

Cumberland

0

0

2

0

36

38

3,553

-5.00

-66.07

Currituck

0

0

0

0

3

3

4,607

-76.92

-50.00

Dare

0

0

0

0

8

8

4,045

14.29

-27.27

Davidson

1

0

3

0

21

25

2,749

-13.79

-71.26

Davie

0

0

0

0

5

5

3,472

-16.67

-93.67

Duplin

0

0

1

0

2

3

7,127

-40.00

50.00

Durham

17

0

165

0

28

210

552

100.00

-9.09

Edgecombe

0

0

1

0

0

1

25,179

 n/a

-85.71

Forsyth

57

0

170

0

50

277

550

18.38

39.90

Franklin

1

0

0

0

7

8

2,976

-55.56

-70.37

Gaston

0

0

3

0

30

33

2,642

-17.50

-72.73

Gates

0

0

0

0

0

0

 n/a

 n/a

 n/a

Graham

0

0

0

0

0

0

 n/a

 n/a

 n/a

Granville

0

0

0

0

0

0

 n/a

 n/a

-100.00

Greene

0

0

5

0

0

5

1,508

150.00

 n/a

Guilford

46

0

198

0

72

316

665

25.40

8.22

Halifax

0

0

0

0

0

0

 n/a

 n/a

-100.00

Harnett

0

0

0

0

3

3

15,048

-85.00

-88.00

Haywood

0

0

0

0

5

5

6,391

-37.50

-66.67

Henderson

0

0

0

0

0

0

 n/a

 n/a

-100.00

Hertford

0

0

0

0

0

0

 n/a

 n/a

-100.00

Hoke

0

0

0

0

0

0

 n/a

-100.00

-100.00

Hyde

0

0

0

0

0

0

 n/a

 n/a

 n/a

Iredell

0

0

0

0

44

44

1,511

175.00

-35.29

Jackson

0

0

0

0

4

4

5,932

100.00

0.00

Johnston

0

0

4

0

21

25

2,488

0.00

-72.22

Jones

0

0

0

0

0

0

 n/a

 n/a

-100.00

Lee

0

0

0

0

1

1

23,446

-88.89

-85.71

Lenoir

2

0

11

0

1

14

1,997

40.00

1300.00

Lincoln

0

0

1

0

16

17

1,813

240.00

-26.09

Macon

0

0

0

0

0

0

 n/a

 n/a

 n/a

Madison

0

0

0

0

0

0

 n/a

 n/a

-100.00

Martin

0

0

1

0

0

1

11,108

 n/a

-80.00

McDowell

0

0

0

0

0

0

 n/a

 n/a

-100.00

Mecklenburg

135

0

466

0

318

919

425

257.59

59.00

Mitchell

0

0

0

0

0

0

 n/a

 n/a

-100.00

Montgomery

0

0

1

0

0

1

14,801

 n/a

-80.00

Moore

0

0

0

0

1

1

40,759

-50.00

-93.33

Nash

0

0

0

0

9

9

4,548

-50.00

-70.97

New Hanover

0

0

1

0

28

29

3,368

-38.30

-44.23

Northampton

0

0

0

0

0

0

 n/a

 n/a

-100.00

Onslow

0

0

0

0

18

18

3,646

-10.00

-28.00

Orange

3

0

29

0

0

32

1,714

3100.00

-31.91

Pamlico

0

0

0

0

0

0

 n/a

-100.00

 n/a

Pasquotank

0

0

0

0

0

0

 n/a

 n/a

 n/a

Pender

0

0

1

0

1

2

12,502

-80.00

-92.31

Perquimans

0

0

0

0

0

0

 n/a

 n/a

 n/a

Person

0

0

0

0

2

2

8,480

-66.67

-81.82

Pitt

5

0

25

0

11

41

1,756

36.67

1950.00

Polk

0

0

0

0

0

0

 n/a

 n/a

-100.00

Randolph

6

0

50

0

24

80

745

50.94

56.86

Richmond

0

0

0

0

0

0

 n/a

 n/a

-100.00

Robeson

0

0

1

0

0

1

49,908

-50.00

-80.00

Rockingham

0

0

0

0

9

9

4,743

-43.75

-82.69

Rowan

0

0

0

0

30

30

1,972

36.36

-9.09

Rutherford

0

0

0

0

0

0

 n/a

-100.00

-100.00

Sampson

0

0

0

0

0

0

 n/a

 n/a

-100.00

Scotland

0

0

0

0

1

1

15,245

-66.67

-90.00

Stanly

0

0

0

0

2

2

13,590

-71.43

-86.67

Stokes

0

0

0

0

4

4

5,115

-55.56

-86.21

Surry

0

0

0

0

1

1

32,402

-92.31

-50.00

Swain

0

0

0

0

0

0

 n/a

 n/a

-100.00

Transylvania

0

0

0

0

0

0

 n/a

 n/a

-100.00

Tyrrell

0

0

0

0

0

0

 n/a

 n/a

-100.00

Union

0

0

4

0

50

54

1,249

145.45

-59.09

Vance

0

0

0

0

0

0

 n/a

-100.00

-100.00

Wake

354

0

121

0

64

539

630

120.90

17.43

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

-50.00

-85.71

Wayne

12

0

20

0

22

54

938

100.00

315.38

Wilkes

0

0

0

0

0

0

 n/a

 n/a

 n/a

Wilson

0

0

1

0

0

1

33,941

 n/a

-94.12

Yadkin

0

0

1

0

4

5

3,350

0.00

150.00

Yancey

0

0

0

0

0

0

 n/a

 n/a

 n/a

 

About RealtyTrac Inc.

RealtyTrac (www.realtytrac.com) is the leading online marketplace of foreclosure properties, with more than 1.5 million default, auction and bank-owned listings from over 2,200 U.S. counties, along with detailed property, loan and home sales data. Hosting more than 3 million unique monthly visitors, RealtyTrac provides innovative technology solutions and practical education resources to facilitate buying, selling and investing in real estate.

Cited by thousands of media outlets each quarter — including all the major news networks, leading publications such as The Wall Street Journal, The New York Times, and USA TODAY, RealtyTrac’s foreclosure data also has been used by the Federal Reserve, FBI, U.S. Senate Joint Economic Committee and Banking Committee, U.S. Treasury Department, and numerous state housing and banking departments to help evaluate foreclosure trends and address policy issues related to foreclosures.

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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