NORTH CAROLINA FORECLOSURES DECREASE 4 PERCENT IN MARCH

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 56 Percent From A Year Ago

 

IRVINE, Calif. – April 23, 2007 – North Carolina reported 3,241 foreclosure filings in March, a 4 percent decrease from the previous month, but still a 56 percent increase from March 2006, 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.

 

“Although North Carolina foreclosures have decreased slightly in March, the numbers have increased from this time last year by more than half,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that average annual industry wages throughout the state are lower than the national average. This may be contributing to the year-over increase.”

 

North Carolina ranked 15th in the country in total foreclosures for March. The state’s foreclosure rate of one foreclosure filing for every 1,086 households ranks it the 17th among the 50 states.

 

Mecklenburg County accounts for highest share of state total

Mecklenburg County reported the highest foreclosure total for the month, with 924 foreclosure filings. Wake County came in second, reporting 357 foreclosure filings, followed by Iredell County with 197 foreclosure filings. Gaston County reported the fourth highest foreclosure total, with 196 foreclosure filings.

 

Iredell County accounts for highest foreclosure rate

Iredell County posted the highest foreclosure rate in North Carolina for March, reporting one foreclosure filing for every 264 households — 4.1 times the state average and 2.9 times the national average. Mecklenburg County reported the second highest foreclosure rate, with one foreclosure filing for every 317 households — 3.4 times the state average and 2.5 times the national average. Gaston County posted the third highest foreclosure rate, with one foreclosure filing for every 402 households — 2.7 times the state average and 1.9 times the national average. Union County posted the fourth highest foreclosure total for the month, with one foreclosure filing for ever 431 households — 2.5 times the state average and 1.8 times the national average.

 

State contributes 2 percent to national total

Total foreclosure filings in North Carolina accounted for 2 percent of the 149,150 foreclosure filings nationwide in March. The national total was up almost 7 percent from the previous month, and surged 47 percent from March 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 775 U.S. households during 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 – March 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

47,135

51,203

8,906

19,416

22,491

149,150

775

n/a

n/a

North Carolina

2,261

88

0

0

892

3,241

1,086

0.71

n/a

 

 

 

 

 

 

 

 

 

 

Alamance

49

2

0

0

14

65

853

0.91

1.27

Alexander

4

0

0

0

3

7

2,014

0.38

0.54

Alleghany

0

0

0

0

0

0

n/a

0.00

0.00

Anson

3

0

0

0

1

4

2,555

0.30

0.43

Ashe

3

0

0

0

2

5

2,654

0.29

0.41

Avery

0

0

0

0

0

0

n/a

0.00

0.00

Beaufort

1

0

0

0

0

1

22,139

0.04

0.05

Bertie

0

0

0

0

1

1

9,050

0.09

0.12

Bladen

1

1

0

0

1

3

5,105

0.15

0.21

Brunswick

13

0

0

0

11

24

2,143

0.36

0.51

Buncombe

66

3

0

0

10

79

1,190

0.65

0.91

Burke

0

0

0

0

0

0

n/a

0.00

0.00

Cabarrus

28

2

0

0

17

47

1,124

0.69

0.97

Caldwell

30

0

0

0

7

37

904

0.86

1.20

Camden

1

1

0

0

0

2

1,487

0.52

0.73

Carteret

2

0

0

0

2

4

10,237

0.08

0.11

Caswell

0

1

0

0

0

1

9,601

0.08

0.11

Catawba

14

0

0

0

9

23

2,605

0.30

0.42

Chatham

4

0

0

0

5

9

2,373

0.33

0.46

Cherokee

0

0

0

0

0

0

n/a

0.00

0.00

Clay

1

0

0

0

0

1

5,425

0.14

0.20

Cleveland

11

2

0

0

21

34

1,186

0.65

0.92

Columbus

0

0

0

0

4

4

6,015

0.13

0.18

Craven

14

0

0

0

10

24

1,590

0.49

0.68

Cumberland

67

2

0

0

54

123

963

0.81

1.13

Currituck

0

0

0

0

0

0

n/a

0.00

0.00

Davidson

2

2

0

0

0

4

15,608

0.05

0.07

Davie

0

0

0

0

0

0

n/a

0.00

0.00

Duplin

3

0

0

0

2

5

4,104

0.19

0.26

Durham

113

2

0

0

37

152

628

1.23

1.73

Edgecombe

0

1

0

0

0

1

24,002

0.03

0.05

Forsyth

94

7

0

0

60

161

827

0.94

1.31

Franklin

20

0

0

0

3

23

885

0.88

1.23

Gaston

149

5

0

0

42

196

402

1.93

2.70

Gates

0

0

0

0

0

0

n/a

0.00

0.00

Graham

0

0

0

0

0

0

n/a

0.00

0.00

Granville

0

0

0

0

0

0

n/a

0.00

0.00

Greene

0

0

0

0

0

0

n/a

0.00

0.00

Guilford

74

9

0

0

57

140

1,289

0.60

0.84

Halifax

1

0

0

0

0

1

25,309

0.03

0.04

Harnett

31

2

0

0

6

39

990

0.78

1.10

Haywood

0

0

0

0

1

1

28,640

0.03

0.04

Henderson

2

0

0

0

1

3

14,332

0.05

0.08

Hoke

0

0

0

0

0

0

n/a

0.00

0.00

Iredell

126

1

0

0

70

197

264

2.94

4.12

Johnston

54

3

0

0

21

78

644

1.20

1.69

Lee

5

0

0

0

3

8

2,489

0.31

0.44

Lenoir

0

0

0

0

3

3

9,061

0.09

0.12

Lincoln

11

0

0

0

11

22

1,169

0.66

0.93

Macon

0

0

0

0

0

0

n/a

0.00

0.00

Madison

3

0

0

0

1

4

2,431

0.32

0.45

Martin

1

0

0

0

3

4

2,733

0.28

0.40

McDowell

2

0

0

0

1

3

6,126

0.13

0.18

Mecklenburg

725

13

0

0

186

924

317

2.45

3.43

Mitchell

0

0

0

0

0

0

n/a

0.00

0.00

Montgomery

0

0

0

0

1

1

7,919

0.10

0.14

Moore

8

0

0

0

6

14

747

1.04

1.45

Nash

37

2

0

0

10

49

717

1.08

1.51

New Hanover

21

0

0

0

3

24

1,544

0.50

0.70

Onslow

1

1

0

0

0

2

5,228

0.15

0.21

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

0

0

0

0

0

n/a

0.00

0.00

Pender

5

0

0

0

5

10

2,080

0.37

0.52

Perquimans

1

0

0

0

0

1

6,043

0.13

0.18

Person

3

0

0

0

9

12

1,292

0.60

0.84

Pitt

0

4

0

0

0

4

14,602

0.05

0.07

Polk

0

0

0

0

0

0

n/a

0.00

0.00

Randolph

0

1

0

0

0

1

54,442

0.01

0.02

Richmond

1

0

0

0

2

3

6,629

0.12

0.16

Robeson

2

1

0

0

0

3

15,926

0.05

0.07

Rockingham

9

1

0

0

9

19

2,116

0.37

0.51

Rowan

3

0

0

0

3

6

8,997

0.09

0.12

Rutherford

16

2

0

0

8

26

1,136

0.68

0.96

Sampson

3

2

0

0

2

7

3,592

0.22

0.30

Scotland

0

0

0

0

2

2

7,347

0.11

0.15

Stanly

13

0

0

0

11

24

1,024

0.76

1.06

Stokes

19

0

0

0

5

24

803

0.97

1.35

Surry

1

0

0

0

2

3

10,344

0.07

0.11

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

68

2

0

0

36

106

431

1.80

2.52

Vance

2

1

0

0

11

14

1,300

0.60

0.84

Wake

291

11

0

0

55

357

725

1.07

1.50

Watauga

1

0

0

0

0

1

23,155

0.03

0.05

Wayne

22

1

0

0

3

26

1,820

0.43

0.60

Wilkes

0

0

0

0

1

1

29,261

0.03

0.04

Wilson

4

0

0

0

26

30

1,024

0.76

1.06

Yadkin

2

0

0

0

2

4

3,955

0.20

0.27

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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