NORTH CAROLINA FORECLOSURES INCREASE 41 PERCENT IN JANUARY

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

State’s Activity Down 26 Percent From a Year Ago

 

IRVINE, Calif. – Feb. 25, 2007 – North Carolina documented 1,771 new foreclosure filings in January, a 41 percent increase from the previous month, but a 26 percent decrease from January 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.

 

“Though foreclosure activity in North Carolina is up compared to last month, things seem to be improving as job growth within the state remains above average,” 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 18th in the country in total foreclosures reported for January. The state’s foreclosure rate of one new foreclosure filing for every 1,988 households ranked 24th among the 50 states.

 

Mecklenburg County leads state in foreclosure activity

Mecklenburg County documented the largest share of North Carolina’s foreclosure activity in January, with 399 properties entering some stage of the foreclosure process during the month. Wake County documented the second largest share of foreclosure activity in the state, with 206 properties in some stage of the foreclosure process. Gaston County posted the state’s third largest share foreclosure activity, with 154 properties in the foreclosure pipeline.

 

Gaston County leads state in foreclosure rate

Gaston County tallied the highest foreclosure rate in North Carolina for January, with one new foreclosure filing for every 512 households — 3.9 times the state average and 1.7 times the national average. Mecklenburg County registered the second highest rate, with one new foreclosure filing for every 734 households — 2.7 times the state average and 1.2 times the national average. Vance County reported the third highest foreclosure rate, with one new foreclosure filing for every 866 households — 2.3 times the state average.

 

State makes minor contribution to national total

North Carolina’s foreclosure activity accounted for 1 percent of the 130,511 properties entering some stage of foreclosure nationwide in January. The national total represents a 19 percent increase in activity from the 109,652 foreclosure filings reported in December. The nation’s foreclosure rate increased to one new foreclosure filing for every 886 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 – January 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

27,317

52,326

6,983

19,980

23,905

130,511

886

n/a

n/a

North Carolina

683

146

0

0

942

1,771

1,988

0.45

n/a

 

 

 

 

 

 

 

 

 

 

Alamance

26

3

0

0

34

63

880

1.01

2.26

Alexander

0

1

0

0

5

6

2,350

0.38

0.85

Alleghany

0

0

0

0

1

1

6,412

0.14

0.31

Anson

0

1

0

0

5

6

1,704

0.52

1.17

Ashe

0

0

0

0

2

2

6,634

0.13

0.30

Avery

0

0

0

0

0

0

n/a

0.00

0.00

Beaufort

1

0

0

0

0

1

22,139

0.04

0.09

Bladen

0

0

0

0

1

1

15,316

0.06

0.13

Brunswick

0

0

0

0

9

9

5,715

0.16

0.35

Buncombe

14

1

0

0

15

30

3,132

0.28

0.63

Burke

1

1

0

0

0

2

18,714

0.05

0.11

Cabarrus

2

2

0

0

32

36

1,468

0.60

1.35

Caldwell

24

1

0

0

8

33

1,013

0.87

1.96

Camden

2

0

0

0

1

3

991

0.89

2.01

Carteret

0

0

0

0

2

2

20,474

0.04

0.10

Caswell

0

0

0

0

1

1

9,601

0.09

0.21

Catawba

1

2

0

0

19

22

2,724

0.33

0.73

Chatham

0

0

0

0

2

2

10,679

0.08

0.19

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

2

1

0

0

3

6

6,720

0.13

0.30

Columbus

0

1

0

0

3

4

6,015

0.15

0.33

Craven

5

1

0

0

2

8

4,769

0.19

0.42

Cumberland

3

2

0

0

68

73

1,622

0.55

1.23

Currituck

0

0

0

0

0

0

n/a

0.00

0.00

Dare

0

0

0

0

0

0

n/a

0.00

0.00

Davidson

1

5

0

0

0

6

10,405

0.09

0.19

Davie

0

0

0

0

0

0

n/a

0.00

0.00

Duplin

2

1

0

0

0

3

6,840

0.13

0.29

Durham

57

2

0

0

43

102

936

0.95

2.12

Edgecombe

0

1

0

0

0

1

24,002

0.04

0.08

Forsyth

2

6

0

0

55

63

2,113

0.42

0.94

Franklin

7

1

0

0

11

19

1,072

0.83

1.85

Gaston

78

4

0

0

72

154

512

1.73

3.88

Gates

0

1

0

0

0

1

4,389

0.20

0.45

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

1

22

0

0

73

96

1,879

0.47

1.06

Halifax

0

0

0

0

2

2

12,655

0.07

0.16

Harnett

13

2

0

0

19

34

1,135

0.78

1.75

Haywood

0

0

0

0

0

0

n/a

0.00

0.00

Henderson

0

0

0

0

0

0

n/a

0.00

0.00

Hoke

0

2

0

0

0

2

6,259

0.14

0.32

Hyde

0

0

0

0

0

0

n/a

0.00

0.00

Iredell

1

2

0

0

19

22

2,360

0.38

0.84

Jackson

3

0

0

0

1

4

4,823

0.18

0.41

Johnston

29

2

0

0

20

51

984

0.90

2.02

Lee

4

0

0

0

8

12

1,659

0.53

1.20

Lenoir

3

3

0

0

0

6

4,531

0.20

0.44

Lincoln

4

0

0

0

20

24

1,072

0.83

1.86

Macon

1

0

0

0

0

1

20,746

0.04

0.10

Madison

0

0

0

0

1

1

9,722

0.09

0.20

Martin

0

1

0

0

1

2

5,465

0.16

0.36

McDowell

0

0

0

0

2

2

9,189

0.10

0.22

Mecklenburg

231

27

0

0

141

399

734

1.21

2.71

Mitchell

0

0

0

0

0

0

n/a

0.00

0.00

Montgomery

0

1

0

0

1

2

5,228

0.17

0.38

Moore

2

0

0

0

6

8

4,394

0.20

0.45

Nash

16

2

0

0

7

25

1,482

0.60

1.34

New Hanover

4

0

0

0

3

7

11,374

0.08

0.17

Northampton

0

1

0

0

1

2

5,228

0.17

0.38

Onslow

0

0

0

0

1

1

55,726

0.02

0.04

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

3

0

0

0

3

6

3,466

0.26

0.57

Perquimans

0

0

0

0

0

0

n/a

0.00

0.00

Person

0

3

0

0

1

4

3,876

0.23

0.51

Pitt

0

3

0

0

0

3

19,469

0.05

0.10

Polk

0

0

0

0

0

0

n/a

0.00

0.00

Randolph

1

1

0

0

8

10

5,444

0.16

0.37

Richmond

0

0

0

0

8

8

2,486

0.36

0.80

Robeson

0

6

0

0

1

7

6,826

0.13

0.29

Rockingham

1

1

0

0

21

23

1,748

0.51

1.14

Rowan

0

0

0

0

3

3

17,993

0.05

0.11

Rutherford

3

0

0

0

6

9

3,282

0.27

0.61

Sampson

1

1

0

0

5

7

3,592

0.25

0.55

Scotland

0

4

0

0

3

7

2,099

0.42

0.95

Stanly

0

0

0

0

0

0

n/a

0.00

0.00

Stokes

0

0

0

0

5

5

3,852

0.23

0.52

Surry

0

0

0

0

0

0

n/a

0.00

0.00

Swain

0

0

0

0

1

1

7,105

0.12

0.28

Transylvania

0

0

0

0

0

0

n/a

0.00

0.00

Union

0

0

0

0

28

28

1,632

0.54

1.22

Vance

4

1

0

0

16

21

866

1.02

2.29

Wake

104

17

0

0

85

206

1,257

0.70

1.58

Warren

0

1

0

0

0

1

10,548

0.08

0.19

Washington

0

1

0

0

0

1

6,174

0.14

0.32

Watauga

0

0

0

0

0

0

n/a

0.00

0.00

Wayne

24

2

0

0

14

40

1,183

0.75

1.68

Wilkes

1

0

0

0

0

1

29,261

0.03

0.07

Wilson

1

2

0

0

11

14

2,195

0.40

0.91

Yadkin

0

0

0

0

2

2

7,911

0.11

0.25

Yancey

0

0

0

0

1

1

9,729

0.09

0.20

 

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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