NORTH CAROLINA FORECLOSURES INCREASE 7 PERCENT IN MAY

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 83 Percent From a Year Ago

 

IRVINE, Calif. – June 15, 2007 – North Carolina reported 3,065 foreclosure filings in May, a 7 percent increase from the previous month, and an 83 percent increase from May 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.

 

North Carolina foreclosures have increased in May and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that the state’s unemployment rate was higher than the national average in April. This is likely contributing to the overall rise.”

 

North Carolina ranked 16th in the country in total foreclosures reported for May. The state’s foreclosure rate of one foreclosure filing for every 1,149 households ranked it 19th among the 50 states.

 

Top three counties account for 43 percent of state total

Three counties accounted for 43 percent of all foreclosure filings in North Carolina for May. Mecklenburg County held the highest foreclosure total for the month with 814 foreclosure filings. Wake County posted the second highest foreclosure total, with 341 foreclosure filings, followed by Gaston County with 158 foreclosure filings. Forsyth County held the fourth highest foreclosure total with 155 foreclosure filings, followed by Durham County with 143 foreclosure filings.

 

Mecklenburg County posts highest foreclosure rate

Mecklenburg County posted the highest foreclosure rate in North Carolina for May, reporting one foreclosure filing for every 360 households — 3.2 times the state average and 1.8 times the national average. Iredell County reported the second highest foreclosure rate, with one foreclosure filing for every 464 households — 2.5 times the state average and 1.4 times the national average. Union County posted the third highest foreclosure rate, with one filing for every 471 households — 2.4 times the state average and 1.4 times the national average. Gaston County reported the fourth highest foreclosure rate, with one foreclosure for every 499 households — 2.3 times the state average and 1.3 times the national average. Johnston County posted the fifth highest foreclosure rate, with one filing for every 591 households — twice the state average.

 

State contributes 2 percent to national total

Total foreclosure filings in North Carolina accounted for 2 percent of the 176,137 foreclosure filings nationwide in May. The national total was up 19 percent from the previous month and up 90 percent from May 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 657 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 – May 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

55,615

56,481

9,760

25,733

28,548

176,137

656

n/a

n/a

North Carolina

2,033

139

0

0

893

3,065

1,149

0.57

n/a

 

 

 

 

 

 

 

 

 

 

Alamance

52

3

0

0

22

77

720

0.91

1.60

Alexander

2

0

0

0

4

6

2,350

0.28

0.49

Alleghany

0

0

0

0

1

1

6,412

0.10

0.18

Anson

3

1

0

0

5

9

1,136

0.58

1.01

Ashe

5

0

0

0

5

10

1,327

0.49

0.87

Avery

1

0

0

0

0

1

11,911

0.06

0.10

Beaufort

0

1

0

0

0

1

22,139

0.03

0.05

Bladen

1

1

0

0

2

4

3,829

0.17

0.30

Brunswick

13

0

0

0

13

26

1,978

0.33

0.58

Buncombe

42

2

0

0

10

54

1,740

0.38

0.66

Burke

1

0

0

0

0

1

37,427

0.02

0.03

Cabarrus

27

4

0

0

18

49

1,079

0.61

1.07

Caldwell

31

1

0

0

15

47

711

0.92

1.62

Camden

0

0

0

0

0

0

n/a

0.00

0.00

Carteret

5

0

0

0

1

6

6,825

0.10

0.17

Caswell

0

0

0

0

0

0

n/a

0.00

0.00

Catawba

30

3

0

0

33

66

908

0.72

1.27

Chatham

5

0

0

0

2

7

3,051

0.22

0.38

Cherokee

1

0

0

0

1

2

6,750

0.10

0.17

Chowan

0

0

0

0

0

0

n/a

0.00

0.00

Clay

1

0

0

0

0

1

5,425

0.12

0.21

Cleveland

10

3

0

0

21

34

1,186

0.55

0.97

Columbus

3

1

0

0

2

6

4,010

0.16

0.29

Craven

10

0

0

0

6

16

2,384

0.28

0.48

Cumberland

82

5

0

0

43

130

911

0.72

1.26

Currituck

1

0

0

0

1

2

5,344

0.12

0.22

Dare

0

0

0

0

1

1

26,671

0.02

0.04

Davidson

1

4

0

0

1

6

10,405

0.06

0.11

Davie

1

0

0

0

0

1

14,953

0.04

0.08

Duplin

0

1

0

0

4

5

4,104

0.16

0.28

Durham

103

4

0

0

36

143

667

0.98

1.72

Edgecombe

2

2

0

0

0

4

6,001

0.11

0.19

Forsyth

129

4

0

0

22

155

859

0.76

1.34

Franklin

11

1

0

0

8

20

1,018

0.64

1.13

Gaston

114

4

0

0

40

158

499

1.32

2.30

Gates

2

0

0

0

1

3

1,463

0.45

0.79

Granville

1

0

0

0

4

5

3,579

0.18

0.32

Greene

0

0

0

0

0

0

n/a

0.00

0.00

Guilford

65

12

0

0

30

107

1,686

0.39

0.68

Halifax

1

0

0

0

3

4

6,327

0.10

0.18

Harnett

21

0

0

0

9

30

1,287

0.51

0.89

Haywood

4

0

0

0

7

11

2,604

0.25

0.44

Henderson

1

1

0

0

0

2

21,498

0.03

0.05

Hertford

0

0

0

0

0

0

n/a

0.00

0.00

Hoke

0

3

0

0

4

7

1,788

0.37

0.64

Iredell

72

5

0

0

35

112

464

1.42

2.48

Jackson

4

0

0

0

1

5

3,858

0.17

0.30

Johnston

48

3

0

0

34

85

591

1.11

1.95

Jones

2

0

0

0

3

5

936

0.70

1.23

Lee

8

1

0

0

17

26

766

0.86

1.50

Lenoir

2

2

0

0

0

4

6,796

0.10

0.17

Lincoln

19

3

0

0

14

36

714

0.92

1.61

Macon

0

0

0

0

0

0

n/a

0.00

0.00

Madison

2

0

0

0

0

2

4,861

0.14

0.24

Martin

0

0

0

0

0

0

n/a

0.00

0.00

McDowell

4

0

0

0

1

5

3,675

0.18

0.31

Mecklenburg

613

20

0

0

181

814

360

1.83

3.19

Mitchell

1

0

0

0

1

2

3,960

0.17

0.29

Montgomery

1

1

0

0

5

7

1,131

0.58

1.02

Moore

3

0

0

0

2

5

2,091

0.31

0.55

Nash

16

2

0

0

9

27

1,302

0.50

0.88

New Hanover

25

4

0

0

6

35

1,059

0.62

1.09

Northampton

2

1

0

0

0

3

26,539

0.02

0.04

Onslow

3

1

0

0

0

4

2,614

0.25

0.44

Orange

1

0

0

0

2

3

18,575

0.04

0.06

Pamlico

0

0

0

0

0

0

n/a

0.00

0.00

Pasquotank

0

1

0

0

0

1

14,289

0.05

0.08

Pender

9

0

0

0

3

12

1,733

0.38

0.66

Perquimans

0

0

0

0

0

0

n/a

0.00

0.00

Person

7

0

0

0

9

16

969

0.68

1.19

Pitt

1

4

0

0

1

6

9,735

0.07

0.12

Polk

0

0

0

0

0

0

n/a

0.00

0.00

Randolph

12

1

0

0

5

18

3,025

0.22

0.38

Richmond

1

0

0

0

3

4

4,972

0.13

0.23

Robeson

0

0

0

0

2

2

23,890

0.03

0.05

Rockingham

0

1

0

0

0

1

40,208

0.02

0.03

Rowan

20

3

0

0

20

43

1,255

0.52

0.92

Rutherford

3

2

0

0

010

15

1,969

0.33

0.58

Sampson

2

0

0

0

12

14

1,796

0.37

0.58

Scotland

0

0

0

0

1

1

14,693

0.04

0.08

Stanly

1

2

0

0

4

7

3,512

0.19

0.33

Stokes

12

0

0

0

4

16

1,204

0.55

0.95

Surry

2

0

0

0

0

2

15,517

0.04

0.07

Swain

1

0

0

0

1

2

3,553

0.18

0.32

Transylvania

0

1

0

0

0

1

15,553

0.04

0.07

Union

73

1

0

0

23

97

471

1.39

2.44

Vance

2

1

0

0

6

9

2,022

0.32

0.57

Wake

248

16

0

0

77

341

759

0.86

1.51

Warren

0

0

0

0

1

1

10,548

0.06

0.11

Washington

1

0

0

0

0

1

6,174

0.11

0.19

Watauga

1

0

0

0

1

2

11,578

0.06

0.10

Wayne

20

2

0

0

13

35

1,352

0.49

0.85

Wilkes

2

0

0

0

1

3

9,754

0.07

0.12

Wilson

6

0

0

0

8

14

2,195

0.30

0.52

Yadkin

1

0

0

0

1

2

7,911

0.08

0.15

Yancey

0

0

0

0

1

1

9,729

0.07

0.12

 

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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