NORTH CAROLINA FORECLOSURES DECREASE 12 PERCENT IN APRIL

Activity Up 55 Percent From a Year Earlier

 

IRVINE, Calif. – May 18, 2007 – North Carolina reported 2,857 foreclosure filings in April, a 12 percent decrease in activity from the previous month, but still 55 percent above the level reported for the same month last year, according to the latest RealtyTrac™ U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 900,000 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 up slightly from 2006, though foreclosure activity remains elevated compared to this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Still, the state is reporting a decrease in activity compared to last month, indicating some improvement.”

 

North Carolina ranked 16th in the country in total foreclosures reported for March. The state posted the 19th highest foreclosure rate in the country for the month — one foreclosure filing for every 1,232 households — below the national average.

 

More than half state activity in five counties

Foreclosure activity in five counties accounted for 57% of all filings reported in North Carolina for April. Mecklenburg County led the state, reporting 663 foreclosure filings for the month. Guilford County came in second, reporting 330 foreclosure filings. Third highest total was reported by Wake County with 310 filings. Forsyth County reported 162 foreclosure filings for the month, followed by Gaston County with 159 filings in the foreclosure pipeline.

 

Mecklenburg County leads state in foreclosure rate for the month

Mecklenburg County posted the highest foreclosure rate in the state for April — one foreclosure filing for every 442 households — 2.8 times the state average and 1.8 times the national average. Union County tallied the state’s second highest rate — one foreclosure filing for every 448 households — 2.8 times the state average and 1.8 times the national average. Third highest was Gaston County with one foreclosure filing for every 496 households — 2.5 times the state average and 1.6 times the national average.

 

State makes contribution to national total

Total foreclosure filings in North Carolina accounted for 2 percent of the 147,708 filings nationwide in April. The national total was down less than 1 percent from the previous month, but still up 62 percent from April 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 783 U.S. households during the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. 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 – April 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

47,171

49,794

7,388

21,085

22,270

147,708

783

n/a

n/a

North Carolina

1,959

141

0

0

757

2,857

1,232

0.64

n/a

 

 

 

 

 

 

 

 

 

 

Alamance

36

2

0

0

14

52

1,067

0.73

1.16

Alexander

1

0

0

0

1

2

7,049

0.11

0.17

Alleghany

0

0

0

0

2

2

3,206

0.24

0.38

Anson

0

0

0

0

1

1

10,221

0.08

0.12

Ashe

3

0

0

0

1

4

3,317

0.24

0.37

Avery

1

0

0

0

0

1

11,911

0.07

0.10

Beaufort

0

1

0

0

0

1

22,139

0.04

0.06

Bertie

0

0

0

0

1

1

9,050

0.09

0.14

Bladen

0

0

0

0

1

1

15,316

0.05

0.08

Brunswick

7

0

0

0

0

7

7,347

0.11

0.17

Buncombe

39

0

0

0

6

45

2,088

0.37

0.59

Burke

0

0

0

0

0

0

n/a

0.00

0.00

Cabarrus

29

3

0

0

9

41

1,289

0.61

0.96

Caldwell

22

4

0

0

5

31

1,078

0.73

1.14

Camden

0

0

0

0

0

0

 n/a

0.00

0.00

Carteret

6

0

0

0

1

7

5,850

0.13

0.21

Caswell

0

1

0

0

1

2

4,801

0.16

0.26

Catawba

20

1

0

0

25

46

1,303

0.60

0.95

Chatham

1

0

0

0

4

5

4,272

0.18

0.29

Cherokee

1

0

0

0

2

3

4,500

0.17

0.27

Chowan

0

0

0

0

0

0

 n/a

0.00

0.00

Clay

1

0

0

0

0

1

5,425

0.14

0.23

Cleveland

23

2

0

0

15

40

1,008

0.78

1.22

Columbus

2

1

0

0

2

5

4,812

0.16

0.26

Craven

7

0

0

0

7

14

2,725

0.29

0.45

Cumberland

70

4

0

0

28

102

1,161

0.67

1.06

Currituck

1

0

0

0

2

3

3,562

0.22

0.35

Dare

0

0

0

0

0

0

 n/a

0.00

0.00

Davidson

3

1

0

0

3

7

8,919

0.09

0.14

Davie

0

0

0

0

0

0

 n/a

0.00

0.00

Duplin

3

0

0

0

5

8

2,565

0.31

0.48

Durham

87

7

0

0

34

128

746

1.05

1.65

Edgecombe

0

0

0

0

0

0

 n/a

0.00

0.00

Forsyth

129

4

0

0

29

162

822

0.95

1.50

Franklin

12

0

0

0

5

17

1,198

0.65

1.03

Gaston

114

3

0

0

42

159

496

1.58

2.48

Gates

1

0

0

0

0

1

4,389

0.18

0.28

Granville

1

0

0

0

0

1

17,896

0.04

0.07

Greene

0

0

0

0

0

0

 n/a

0.00

0.00

Guilford

226

23

0

0

81

330

547

1.43

2.25

Halifax

3

0

0

0

2

5

5,062

0.15

0.24

Harnett

13

4

0

0

5

22

1,755

0.45

0.70

Haywood

4

1

0

0

8

13

2,203

0.36

0.56

Henderson

0

0

0

0

0

0

 n/a

0.00

0.00

Hertford

0

0

0

0

1

1

9,724

0.08

0.13

Hoke

1

1

0

0

0

2

6,259

0.13

0.20

Hyde

1

0

0

0

0

1

3,302

0.24

0.37

Iredell

25

10

0

0

9

44

1,180

0.66

1.04

Jackson

1

0

0

0

1

2

9,646

0.08

0.13

Johnston

43

2

0

0

18

63

797

0.98

1.55

Lee

8

0

0

0

9

17

1,171

0.67

1.05

Lenoir

3

3

0

0

1

7

3,883

0.20

0.32

Lincoln

14

2

0

0

19

35

735

1.07

1.68

Macon

0

0

0

0

0

0

 n/a

0.00

0.00

Madison

2

0

0

0

0

2

4,861

0.16

0.25

Martin

0

0

0

0

0

0

 n/a

0.00

0.00

McDowell

1

1

0

0

3

5

3,675

0.21

0.34

Mecklenburg

518

21

0

0

124

663

442

1.77

2.79

Mitchell

1

0

0

0

1

2

3,960

0.20

0.31

Montgomery

1

1

0

0

0

2

3,960

0.20

0.31

Moore

4

0

0

0

2

6

1,743

0.45

0.71

Nash

25

1

0

0

16

42

837

0.94

1.47

New Hanover

20

2

0

0

1

23

1,611

0.49

0.76

Northampton

0

0

0

0

0

0

 n/a

0.00

0.00

Onslow

0

2

0

0

1

3

3,485

0.22

0.35

Orange

4

0

0

0

0

4

13,932

0.06

0.09

Pamlico

0

0

0

0

0

0

 n/a

0.00

0.00

Pasquotank

2

0

0

0

0

2

7,145

0.11

0.17

Pender

2

0

0

0

6

8

2,600

0.30

0.47

Perquimans

0

0

0

0

0

0

 n/a

0.00

0.00

Person

4

0

0

0

8

12

1,292

0.61

0.95

Pitt

0

2

0

0

1

3

19,469

0.04

0.06

Polk

1

0

0

0

0

1

9,192

0.09

0.13

Randolph

42

0

0

0

32

74

736

1.06

1.67

Richmond

1

2

0

0

1

4

4,972

0.16

0.25

Robeson

3

2

0

0

2

7

6,826

0.11

0.18

Rockingham

0

1

0

0

1

2

20,104

0.04

0.06

Rowan

12

1

0

0

18

31

1,741

0.45

0.71

Rutherford

6

2

0

0

7

15

1,969

0.40

0.63

Sampson

1

0

0

0

9

10

2,514

0.31

0.49

Scotland

0

2

0

0

5

7

2,099

0.37

0.59

Stanly

1

0

0

0

0

1

24,582

0.03

0.05

Stokes

6

0

0

0

2

8

2,408

0.33

0.51

Surry

1

0

0

0

0

1

31,033

0.03

0.04

Swain

0

0

0

0

1

1

7,105

0.11

0.17

Transylvania

0

0

0

0

0

0

 n/a

0.00

0.00

Tyrrell

0

0

0

0

1

1

2,031

0.39

0.61

Union

77

4

0

0

21

102

448

1.75

2.75

Vance

4

0

0

0

6

10

1,820

0.43

0.68

Wake

239

11

0

0

60

310

835

0.94

1.48

Watauga

2

1

0

0

0

3

7,718

0.10

0.16

Wayne

15

2

0

0

12

29

1,631

0.48

0.76

Wilkes

0

0

0

0

0

0

 n/a

0.00

0.00

Wilson

2

0

0

0

11

13

2,364

0.33

0.52

Yadkin

0

3

0

0

5

8

1,978

0.40

0.62

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 construction properties, 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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