North Carolina Market Update: Foreclosure Status
By: Jaclyn Erwin, ABR, Realtor
Charlotte, NC Real Estate
Folks, the numbers are out. Foreclosure rates are at an All-Time High throughout the country. Unfortunately, North Carolina is not immune to these conditions. In fact, the foreclosure rate within North Carolina has significantly increased, earning NC. the 26th highest state in foreclosures. The RealtyTrac report reflected that 120,334 properties nationwide entered some stage of foreclosure during the month of November. The leading counties in and around the Charlotte, NC. area consist of:
- Mecklenburg
- Cabarrus
- Iredell
- Gaston
Mecklenburg county, leads the pack with well over 7, 100 foreclosures in 2006. With 365 days in the year, that equates to 19.9 homes that were foreclosed per day in 2006. These numbers do not reflect those homes that are in foreclosure status, but have yet to be officially foreclosed by the banks.
Sadly, the forecast for 2007 projects even higher foreclosure numbers for North Carolina.
Jaclyn Erwin, ABR, Realtor
Charlotte, NC Real Estate
Comments(3)