North Carolina Foreclosures Up Slightly in January

State foreclosure activity increases one percent for month

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 3,040 North Carolina properties in January, a one percent increase from December. On a year-over-year basis the state’s foreclosure total is 4 percent below the level reported for January 2010, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

North Carolina ranked 18th in the nation in total foreclosures reported for January. Its foreclosure rate of one in every 1,401 housing units receiving a foreclosure filing during the month, ranked it 35th among the 50 states.

 

Forsyth County posts state’s top foreclosure rate in January

Forsyth County posted the highest foreclosure rate of all North Carolina counties in January, with one in every 472 housing units receiving a foreclosure filing — three times the state average. Alamance County reported the second highest foreclosure rate, with one in every 536 housing units receiving a foreclosure filing during the month — 2.6 times the state average. One in every 572 housing units in Guilford County received a foreclosure filing during the month, the third highest foreclosure rate in the state — 2.4 times the state average.

 

Mecklenburg County dominates state foreclosure activity in January

Mecklenburg County started off 2011 reporting 714 properties with foreclosure filings in January, the highest total in North Carolina for the month. Wake County tallied the second highest foreclosure total in the state, reporting 440 properties with foreclosure filings. Third highest was Guilford County, where 378 properties with foreclosure filings were reported. Forsyth County came in fourth, reporting 333 properties with foreclosure filings, followed by Alamance County, where 123 properties with foreclosure filings were reported for the month.

 

State contributes 1 percent to the nation’s foreclosure total in January

North Carolina accounted for 1 percent of the 261,333 properties with foreclosure filings reported nationwide in January. Total U.S. activity increased by more than 1 percent from December, but was down more than 17 percent from the level reported in January 2010. One in every 497 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: Default Notice of Default (NOD) and Lis Pendens (LIS); Auction 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). If more than one foreclosure document is received for a property during the month, only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

North Carolina Top Foreclosure Rates By County – January 2011

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

36,964

38,234

88,050

19,952

78,133

261,333

497

n/a

n/a

North Carolina

367

0

1,582

0

1,091

3,040

1,401

0.36

n/a

 

 

 

 

 

 

 

 

 

 

Forsyth

66

0

205

0

62

333

472

1.05

2.96

Alamance

6

0

103

0

14

123

536

0.93

2.61

Guilford

76

0

208

0

94

378

572

0.87

2.45

Mecklenburg

22

0

510

0

182

714

579

0.86

2.42

Randolph

32

0

38

0

34

104

583

0.85

2.40

 

 

North Carolina Top Foreclosure Totals by County – January 2011

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Dec 10

% Chg Jan 10

 

 

 

 

 

 

 

 

 

 

United States

36,964

38,234

88,050

19,952

78,133

261,333

497

1.39

-17.23

North Carolina

367

0

1,582

0

1,091

3,040

1,401

1.16

-3.92

 

 

 

 

 

 

 

 

 

 

Mecklenburg

22

0

510

0

182

714

579

-9.96

-16.69

Wake

159

0

136

0

145

440

821

-9.84

-15.06

Guilford

76

0

208

0

94

378

572

15.95

-7.35

Forsyth

66

0

205

0

62

333

472

57.82

43.53

Alamance

6

0

103

0

14

123

536

1,437.50

412.50

 

 

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