NORTH CAROLINA FORECLOSURES UNCHANGED IN NOVEMBER

State’s Activity Level Up 15 Percent From a Year Ago

 

IRVINE, Calif. – Dec. 11, 2006 – North Carolina reported 1,635 properties entering some stage of the foreclosure process in November, showing no change from the 1,635 properties reported in October, but still a 15 percent gain from the 1,427 properties reported for the same month last year, according to the RealtyTrac™ U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with nearly 700,000 properties from more than 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 still higher than last year, 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 construction, education, health services, and other service sectors, while North Carolina’s high-tech sector seems to be making a comeback.”

 

North Carolina ranked 17th in the country in total foreclosures reported for November. The state’s foreclosure rate of one new foreclosure filing for every 2,153 households — 0.45 times the national average — ranks it 26th among the 50 states.

 

Mecklenburg County leads state in activity

Mecklenburg County led the state reporting 405 properties entering some stage of the foreclosure process during the month. Wake County registered the second highest total, reporting 125 properties in some stage of the foreclosure process for the month, followed by Guilford County reporting the third highest total with 98 properties in the foreclosure pipeline.

 

Cleveland County posts state’s top foreclosure rate

Cleveland County posted the top foreclosure rate in the state for November, reporting one new foreclosure filing for every 611 households — 3.5 times the state average and 1.6 times the national average. Next highest was Mecklenburg County reporting one new foreclosure filing for every 723 households — 3.0 times the state average and 1.3 times the national average. The third highest rate in the state was found in Iredell County, which reported one new foreclosure filing for every 824 households — 2.6 times the state average and 1.2 times the national average.

 

State total has little impact on national total

North Carolina’s foreclosure activity accounted for just over 1 percent of the 120,334 properties entering some stage of foreclosure nationwide in November. The national total represents a 4 percent increase from the 115,568 foreclosures reported in October. The nation’s foreclosure rate increased to one new foreclosure filing for every 961 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: Pre-foreclosures — Notice of Default (NOD) and Lis Pendens (LIS); Foreclosures — 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 – November 2006

 

County Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

31,027

44,448

5,685

16,263

22,911

120,334

961

n/a

n/a

North Carolina

406

98

0

0

1,131

1,635

2,153

0.45

n/a

 

 

 

 

 

 

 

 

 

 

Alamance

22

2

0

0

21

45

1,233

0.78

1.74

Alexander

0

0

0

0

2

2

7,049

0.13

0.30

Anson

0

0

0

0

3

3

3,407

0.28

0.63

Ashe

0

0

0

0

1

1

13,268

0.07

0.16

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

Bertie

0

0

0

0

2

2

4,525

0.21

0.47

Brunswick

0

0

0

0

6

6

8,572

0.11

0.25

Buncombe

7

0

0

0

14

21

4,475

0.21

0.48

Burke

1

1

0

0

0

2

18,714

0.05

0.11

Cabarrus

0

3

0

0

18

21

2,517

0.38

0.85

Caldwell

7

1

0

0

11

19

1,759

0.54

1.22

Carteret

0

0

0

0

1

1

40,947

0.02

0.05

Caswell

0

0

0

0

4

4

2,400

0.40

0.89

Catawba

1

1

0

0

21

23

2,605

0.36

0.82

Chatham

0

0

0

0

4

4

5,340

0.18

0.40

Cherokee

0

0

0

0

5

5

2,700

0.35

0.79

Clay

0

0

0

0

0

0

n/a 

0.00

0.00

Cleveland

2

0

0

0

64

66

611

1.57

3.52

Columbus

0

0

0

0

1

1

24,060

0.04

0.08

Craven

2

0

0

0

1

3

12,717

0.07

0.16

Cumberland

1

2

0

0

66

69

1,716

0.56

1.25

Currituck

0

1

0

0

0

1

10,687

0.09

0.20

Dare

0

0

0

0

0

0

n/a 

0.00

0.00

Davidson

0

4

0

0

5

9

6,937

0.13

0.31

Davie

0

0

0

0

0

0

n/a 

0.00

0.00

Duplin

1

1

0

0

0

2

10,260

0.09

0.21

Durham

26

5

0

0

51

82

1,164

0.82

1.85

Edgecombe

0

4

0

0

0

4

6,001

0.16

0.35

Forsyth

1

3

0

0

70

74

1,799

0.53

1.19

Franklin

8

1

0

0

12

21

970

0.99

2.22

Gaston

31

5

0

0

42

78

1,011

0.95

2.13

Gates

0

1

0

0

1

2

2,195

0.43

0.98

Granville

1

1

0

0

0

2

8,948

0.10

0.24

Greene

0

1

0

0

0

1

7,368

0.13

0.29

Guilford

1

8

0

0

89

98

1,841

0.52

1.17

Halifax

0

0

0

0

5

5

5,062

0.19

0.42

Harnett

12

0

0

0

6

18

2,145

0.44

1.00

Haywood

0

0

0

0

13

13

2,203

0.43

0.97

Henderson

0

0

0

0

0

0

n/a 

0.00

0.00

Hertford

0

0

0

0

5

5

1,945

0.49

1.10

Hoke

0

0

0

0

0

0

n/a 

0.00

0.00

Hyde

0

0

0

0

1

1

3,302

0.29

0.65

Iredell

0

2

0

0

61

63

824

1.16

2.613

Johnston

16

2

0

0

34

52

965

0.99

2.23

Lee

0

0

0

0

3

3

6,636

0.14

0.32

Lenoir

0

1

0

0

0

1

27,184

0.03

0.07

Lincoln

0

0

0

0

13

13

1,978

0.48

1.08

Macon

0

1

0

0

0

1

20,746

0.04

0.10

Madison

0

0

0

0

0

0

n/a 

0.00

0.00

Martin

0

1

0

0

2

3

3,643

0.26

0.59

McDowell

0

0

0

0

2

2

9,189

0.10

0.23

Mecklenburg

184

16

0

0

205

405

723

1.32

2.97

Mitchell

0

0

0

0

0

0

n/a 

0.00

0.00

Montgomery

0

1

0

0

0

1

10,455

0.09

0.20

Moore

5

1

0

0

2

8

4,394

0.21

0.49

Nash

13

0

0

0

16

29

1,278

0.7

1.68

New Hanover

1

1

0

0

3

5

15,923

0.06

0.13

Onslow

0

0

0

0

0

0

n/a 

0.00

0.00

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

1

1

14,289

0.06

0.15

Pender

2

0

0

0

5

7

2,971

0.32

0.72

Person

0

2

0

0

1

3

5,168

0.18

0.41

Pitt

0

1

0

0

0

1

58,408

0.01

0.03

Polk

0

0

0

0

0

0

n/a 

0.00

0.00

Randolph

0

0

0

0

20

20

2,722

0.35

0.79

Richmond

0

0

0

0

1

1

19,886

0.04

0.10

Robeson

0

1

0

0

1

2

23,890

0.04

0.09

Rockingham

0

4

0

0

22

26

1,546

0.62

1.39

Rowan

0

0

0

0

29

29

1,861

0.51

1.15

Rutherford

1

0

0

0

6

7

4,219

0.22

0.51

Sampson

0

0

0

0

2

2

12,571

0.07

0.17

Scotland

0

0

0

0

2

2

7,347

0.13

0.29

Stanly

0

1

0

0

14

15

1,639

0.58

1.31

Stokes

0

0

0

0

2

2

9,631

0.10

0.22

Surry

0

0

0

0

0

0

n/a 

0.00

0.00

Transylvania

1

0

0

0

0

1

15,553

0.06

0.13

Tyrrell

1

0

0

0

0

1

2,031

0.47

1.06

Union

1

0

0

0

33

34

1,344

0.71

1.60

Vance

2

0

0

0

6

8

2,275

0.42

0.94

Wake

42

6

0

0

77

125

2,072

0.46

1.03

Washington

0

1

0

0

0

1

6,174

0.15

0.34

Watauga

0

0

0

0

0

0

n/a 

0.00

0.00

Wayne

13

6

0

0

14

33

1,434

0.67

1.50

Wilkes

0

0

0

0

0

0

n/a 

0.00

0.00

Wilson

0

3

0

0

4

7

4,390

0.21

0.49

Yadkin

0

2

0

0

5

7

2,260

0.42

0.95

 

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 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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