NORTH CAROLINA FORECLOSURE ACTIVITY UP 83 PERCENT IN AUGUST

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Increases 69 Percent From August 2006

 

IRVINE, Calif. – September 21, 2007 – North Carolina reported 3,483 foreclosure filings in August, an 83 percent increase from the previous month, and 69 percent above the number reported in August 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The state’s foreclosure rate — one foreclosure filing for every 1,131 households — was the 22nd highest in the nation.

 

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.

 

“Employment growth in North Carolina is beginning to level out, though foreclosure activity remains high,” said James J. Saccacio, chief executive officer of RealtyTrac. “Personal bankruptcies within the state also remain elevated compared to last year.”

 

North Carolina ranked 17th in the country in total foreclosures reported for August.

 

Mecklenburg County leads the state in foreclosure total

Mecklenburg County led the state in foreclosure activity, with 989 foreclosure filings for the month. Wake County reported the second highest foreclosure total, with 331 foreclosure filings. Gaston County came in third highest, with 214 foreclosure filings. Durham County had the fourth highest foreclosure total, with 198 filings entering some part of the foreclosure pipeline.

 

Mecklenburg County posts highest foreclosure rate

Mecklenburg County posted the highest foreclosure rate in the state for August, with one foreclosure filing for every 361 households — 3.1 times the state average and 1.4 times the national average. Gaston County posted the second highest foreclosure rate, with one foreclosure filing for every 396 households — 2.9 times the state average. Cabarrus County posted the third highest foreclosure rate in the state, with one foreclosure filing for every 526 households — 2.2 times the state average. Durham County had the fourth highest foreclosure rate, with one foreclosure filing for every 560 households — twice the state average.

 

State a contributor to national total

North Carolina accounted for 1 percent of the 243,947 foreclosure filings nationwide in August. The national total represents a 36 percent increase from the previous month and is up 115 percent from August 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 510 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 – August 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

56,388

67,632

24,810

52,328

42,789

243,947

510

n/a

n/a

North Carolina

2,401

122

0

0

960

3,483

1,131

0.45

n/a

 

 

 

 

 

 

 

 

 

 

Alamance

69

3

0

0

21

93

656

0.78

1.72

Alexander

4

0

0

0

4

8

1,877

0.27

0.60

Alleghany

2

0

0

0

0

2

3,478

0.15

0.33

Anson

4

0

0

0

3

7

1,497

0.34

0.76

Ashe

5

1

0

0

1

7

2,094

0.24

0.54

Avery

1

0

0

0

0

1

12,926

0.04

0.09

Beaufort

1

0

0

0

0

1

23,273

0.02

0.05

Bertie

0

1

0

0

0

1

9,307

0.05

0.12

Bladen

1

0

0

0

1

2

7,919

0.06

0.14

Brunswick

19

1

0

0

5

25

2,586

0.20

0.44

Buncombe

66

5

0

0

14

85

1,215

0.42

0.93

Burke

1

0

0

0

1

2

19,461

0.03

0.06

Cabarrus

79

2

0

0

38

119

526

0.97

2.15

Caldwell

31

2

0

0

30

63

563

0.91

2.01

Camden

4

0

0

0

0

4

897

0.57

1.26

Carteret

13

0

0

0

2

15

2,941

0.17

0.38

Caswell

6

0

0

0

1

7

1,444

0.35

0.78

Catawba

24

1

0

0

21

46

1,429

0.36

0.79

Chatham

7

0

0

0

1

8

3,042

0.17

0.37

Cherokee

2

0

0

0

1

3

5,109

0.10

0.22

Chowan

0

0

0

0

0

0

n/a

0.00

0.00

Clay

0

0

0

0

1

1

6,255

0.08

0.18

Cleveland

14

3

0

0

20

37

1,146

0.45

0.99

Columbus

3

1

0

0

2

6

4,114

0.12

0.27

Craven

16

0

0

0

4

20

2,111

0.24

0.54

Cumberland

81

3

0

0

54

138

930

0.55

1.22

Currituck

3

1

0

0

2

6

2,187

0.23

0.52

Dare

0

0

0

0

3

3

10,426

0.05

0.11

Davidson

1

2

0

0

4

7

9,558

0.05

0.12

Davie

0

1

0

0

0

1

16,665

0.03

0.07

Duplin

2

1

0

0

2

5

4,260

0.12

0.27

Durham

142

3

0

0

53

198

560

0.91

2.02

Edgecombe

2

2

0

0

0

4

6,260

0.08

0.18

Forsyth

122

9

0

0

33

164

895

0.57

1.26

Franklin

6

0

0

0

15

21

1,083

0.47

1.04

Gaston

148

6

0

0

60

214

396

1.29

2.86

Gates

0

0

0

0

0

0

n/a

0.00

0.00

Graham

0

1

0

0

0

1

5,424

0.09

0.21

Granville

0

2

0

0

0

2

10,200

0.05

0.11

Greene

1

0

0

0

0

1

7,548

0.07

0.15

Guilford

10

13

0

0

8

31

6,473

0.08

0.17

Halifax

2

2

0

0

6

10

2,590

0.20

0.44

Harnett

18

0

0

0

9

27

1,590

0.32

0.71

Haywood

5

0

0

0

4

9

3,432

0.15

0.33

Henderson

2

1

0

0

3

6

7,964

0.06

0.14

Hertford

2

0

0

0

6

8

1,241

0.41

0.91

Hoke

2

0

0

0

8

10

1,467

0.35

0.77

Hyde

0

0

0

0

0

0

n/a

0.00

0.00

Iredell

47

2

0

0

17

66

941

0.54

1.20

Jackson

4

0

0

0

2

6

3,717

0.14

0.30

Johnston

54

5

0

0

21

80

733

0.70

1.54

Lee

15

0

0

0

11

26

829

0.62

1.36

Lenoir

0

2

0

0

0

2

13,986

0.04

0.08

Lincoln

12

0

0

0

15

27

1,093

0.47

1.03

Macon

0

0

0

0

0

0

n/a

0.00

0.00

Madison

5

0

0

0

1

6

1,742

0.29

0.65

Martin

0

0

0

0

4

4

2,781

0.18

0.41

McDowell

2

0

0

0

3

5

3,864

0.13

0.29

Mecklenburg

765

22

0

0

202

989

361

1.41

3.13

Mitchell

0

0

0

0

0

0

n/a

0.00

0.00

Montgomery

1

0

0

0

2

3

4,895

0.10

0.23

Moore

9

0

0

0

3

12

3,241

0.16

0.35

Nash

23

2

0

0

9

34

1,177

0.43

0.96

New Hanover

33

1

0

0

4

38

2,439

0.21

0.46

Northampton

0

0

0

0

0

0

n/a

0.00

0.00

Onslow

0

0

0

0

0

0

n/a

0.00

0.00

Orange

1

1

0

0

0

2

26,747

0.02

0.04

Pamlico

1

0

0

0

0

1

7,144

0.07

0.16

Pasquotank

0

0

0

0

0

0

n/a

0.00

0.00

Pender

7

0

0

0

5

12

1,959

0.26

0.58

Perquimans

1

0

0

0

0

1

6,472

0.08

0.17

Person

0

0

0

0

0

0

n/a

0.00

0.00

Pitt

0

3

0

0

2

5

13,545

0.04

0.08

Polk

0

1

0

0

0

1

10,014

0.05

0.11

Randolph

50

0

0

0

11

61

958

0.53

1.18

Richmond

0

0

0

0

5

5

4,267

0.12

0.27

Robeson

2

2

0

0

5

9

5,515

0.09

0.21

Rockingham

0

0

0

0

4

4

10,529

0.05

0.11

Rowan

20

0

0

0

20

40

1,446

0.35

0.78

Rutherford

12

0

0

0

4

16

1,944

0.26

0.58

Sampson

5

1

0

0

8

14

1,856

0.28

0.61

Scotland

2

0

0

0

3

5

3,044

0.17

0.37

Stanly

4

0

0

0

3

7

3,775

0.14

0.30

Stokes

8

0

0

0

2

10

2,018

0.25

0.56

Surry

1

0

0

0

1

2

16,079

0.03

0.07

Swain

0

0

0

0

0

0

n/a

0.00

0.00

Transylvania

0

0

0

0

0

0

n/a

0.00

0.00

Union

63

1

0

0

17

81

740

0.69

1.53

Vance

8

2

0

0

8

18

1,049

0.49

1.08

Wake

275

8

0

0

48

331

950

0.54

1.19

Washington

3

0

0

0

0

3

2,079

0.25

0.54

Watauga

4

0

0

0

4

8

3,249

0.16

0.35

Wayne

30

2

0

0

10

42

1,188

0.43

0.95

Wilkes

4

0

0

0

24

28

1,089

0.47

1.04

Wilson

6

0

0

0

32

38

873

0.58

1.30

Yadkin

3

0

0

0

7

10

1,654

0.31

0.68

Yancey

0

0

0

0

2

2

5,154

0.10

0.22

 

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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