NORTH CAROLINA FORECLOSURES DOWN 4 PERCENT IN FEBRUARY

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

State’s Activity Drops 29 Percent From a Year Ago

 

IRVINE, Calif. – March 26, 2007 – North Carolina reported 2,272 foreclosure filings in February, a 4 percent decrease from the previous month, and a 29 percent decline from February 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 850,000 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.

 

“Things seem to be improving in North Carolina as job growth within the state remains above average and foreclosures are down,” said James J. Saccacio, chief executive officer of RealtyTrac. “The highest employment growth has been noticed in the non-manufacturing and service sectors.”

 

North Carolina ranked 17th in the country in total foreclosures reported for February. The state’s foreclosure rate of one foreclosure filing for every 1,549 households ranked 21st among the 50 states.

 

Mecklenburg County leads state in foreclosure activity

Mecklenburg County reported the highest county total with 503 foreclosure filings for the month. Guilford County came in second, reporting 230 foreclosure filings. Third highest total was in Wake County, reporting 199 filings, while Forsyth came in fourth with 179 foreclosure filings and Cumberland had the fifth highest total, reporting 145 filings in the foreclosure pipeline.

 

Cabarrus County reports highest foreclosure rate in state

Cabarrus County tallied the highest foreclosure rate in North Carolina for February, with one foreclosure filing for every 568 households — 2.7 times the state average and 1.6 times the national average. Mecklenburg County reported the second highest rate, with one foreclosure filing for every 582 households — 2.7 times the state average and 1.5 times the national average. Gaston County had the third highest rate, one foreclosure filing for every 616 households — 2.5 times the state average and 1.4 times the national average.

 

State makes contribution to national total

The total number of foreclosure filings in North Carolina accounted for just under 2 percent of the 130,786 filings nationwide in February. The national total was down 4 percent from the previous month, but still up 12 percent from February 2006. The nation’s foreclosure rate increased slightly to one foreclosure filing for every 884 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 – February 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

29,662

47,127

9,404

22,479

22,114

130,786

884

n/a

n/a

North Carolina

1,148

101

0

0

1,023

2,272

1,549

0.57

n/a

 

 

 

 

 

 

 

 

 

 

Alamance

19

1

0

0

22

42

1,321

0.67

1.17

Alexander

0

0

0

0

4

4

3,525

0.25

0.44

Alleghany

0

0

0

0

2

2

3,206

0.28

0.48

Anson

1

1

0

0

3

5

2,044

0.43

0.76

Ashe

0

0

0

0

1

1

13,268

0.07

0.12

Avery

0

0

0

0

0

0

n/a

0.00

0.00

Beaufort

0

0

0

0

0

0

 n/a

0.00

0.00

Bladen

0

0

0

0

1

1

15,316

0.06

0.10

Brunswick

5

0

0

0

8

13

3,956

0.22

0.39

Buncombe

18

0

0

0

7

25

3,759

0.24

0.41

Burke

0

0

0

0

0

0

 n/a

0.00

0.00

Cabarrus

54

1

0

0

38

93

568

1.56

2.73

Caldwell

22

1

0

0

7

30

1,114

0.79

1.39

Camden

2

0

0

0

0

2

1,487

0.59

1.04

Carteret

3

0

0

0

0

3

13,649

0.06

0.11

Caswell

0

0

0

0

0

0

 n/a

0.00

0.00

Catawba

30

0

0

0

38

68

881

1.00

1.76

Chatham

0

0

0

0

9

9

2,373

0.37

0.65

Cherokee

0

0

0

0

0

0

 n/a

0.00

0.00

Clay

0

0

0

0

0

0

 n/a

0.00

0.00

Cleveland

11

4

0

0

8

23

1,753

0.50

0.88

Columbus

0

1

0

0

2

3

8,020

0.11

0.19

Craven

5

0

0

0

4

9

4,239

0.21

0.37

Cumberland

76

4

0

0

65

145

817

1.08

1.90

Currituck

0

0

0

0

0

0

 n/a

0.00

0.00

Davidson

2

3

0

0

1

6

10,405

0.08

0.15

Davie

0

0

0

0

0

0

 n/a

0.00

0.00

Duplin

2

0

0

0

2

4

5,130

0.17

0.30

Durham

41

5

0

0

44

90

1,061

0.83

1.46

Edgecombe

0

2

0

0

1

3

8,001

0.11

0.19

Forsyth

120

4

0

0

55

179

744

1.19

2.08

Franklin

10

0

0

0

6

16

1,273

0.69

1.22

Gaston

60

3

0

0

65

128

616

1.44

2.52

Gates

0

1

0

0

1

2

2,195

0.40

0.71

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

132

12

0

0

86

230

784

1.13

1.98

Halifax

7

0

0

0

8

15

1,687

0.52

0.92

Harnett

11

1

0

0

4

16

2,413

0.37

0.64

Haywood

0

0

0

0

0

0

 n/a

0.00

0.00

Henderson

3

0

0

0

0

3

14,332

0.06

0.11

Hertford

0

0

0

0

2

2

4,862

0.18

0.32

Hoke

0

0

0

0

0

0

 n/a

0.00

0.00

Iredell

5

1

0

0

8

14

3,708

0.24

0.42

Jackson

1

1

0

0

0

2

9,646

0.09

0.16

Johnston

13

1

0

0

23

37

1,357

0.65

1.14

Lee

12

1

0

0

9

22

905

0.98

1.71

Lenoir

1

0

0

0

0

1

27,184

0.03

0.06

Lincoln

21

0

0

0

13

34

756

1.17

2.05

Madison

1

0

0

0

0

1

9,722

0.09

0.16

Martin

0

0

0

0

3

3

3,643

0.24

0.43

McDowell

0

0

0

0

2

2

9,189

0.10

0.17

Mecklenburg

212

26

0

0

265

503

582

1.52

2.66

Mitchell

0

0

0

0

0

0

 n/a

0.00

0.00

Montgomery

1

0

0

0

1

2

5,228

0.17

0.30

Moore

8

0

0

0

1

9

3,906

0.23

0.40

Nash

11

3

0

0

12

26

1,425

0.62

1.09

New Hanover

12

2

0

0

5

19

4,190

0.21

0.37

Northampton

0

0

0

0

0

0

 n/a

0.00

0.00

Onslow

1

0

0

0

0

1

55,726

0.02

0.03

Orange

1

1

0

0

2

4

12,322

0.07

0.13

Pasquotank

0

0

0

0

0

0

 n/a

0.00

0.00

Pender

5

0

0

0

2

7

2,971

0.30

0.52

Perquimans

0

0

0

0

1

1

6,043

0.15

0.26

Person

2

0

0

0

2

4

3,876

0.23

0.40

Pitt

1

3

0

0

0

4

14,602

0.06

0.11

Polk

0

0

0

0

0

0

 n/a

0.00

0.00

Randolph

18

0

0

0

12

30

1,815

0.49

0.85

Richmond

2

1

0

0

1

4

4,972

0.18

0.31

Robeson

3

2

0

0

2

7

6,826

0.13

0.23

Rockingham

0

0

0

0

0

0

 n/a

0.00

0.00

Rowan

12

0

0

0

26

38

1,421

0.62

1.09

Rutherford

12

0

0

0

3

15

1,969

0.45

0.79

Sampson

1

0

0

0

3

4

6,286

0.14

0.25

Scotland

0

0

0

0

2

2

7,347

0.12

0.21

Stanly

8

0

0

0

3

11

2,235

0.40

0.69

Stokes

1

0

0

0

3

4

4,816

0.18

0.32

Surry

0

1

0

0

0

1

31,033

0.03

0.05

Transylvania

0

0

0

0

0

0

 n/a

0.00

0.00

Union

15

2

0

0

9

26

1,758

0.50

0.88

Vance

1

0

0

0

14

15

1,213

0.73

1.28

Wake

103

9

0

0

87

199

1,301

0.68

1.19

Watauga

0

0

0

0

0

0

 n/a

0.00

0.00

Wayne

30

2

0

0

8

40

1,183

0.75

1.31

Wilkes

0

0

0

0

0

0

 n/a

0.00

0.00

Wilson

0

0

0

0

4

4

7,682

0.12

0.20

Yadkin

0

1

0

0

1

2

7,911

0.11

0.20

Yancey

0

0

0

0

2

2

4,865

0.18

0.32

 

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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