Area foreclosures down

Jul. 11, 2013 @ 04:58 PM

The number of properties in the Durham-Chapel Hill metro area that had a foreclosure filing in the first half of the year was down 25 percent compared with the same period last year, according to RealtyTrac.

Across the state, the number of properties foreclosure filings was down 7 percent compared with the same period in last year, while the number was down 23 percent across the United States. That’s according to new data released Thursday by RealtyTrac, a website that lists properties in foreclosure.
“Halfway through 2013, it is becoming increasingly evident that while foreclosures are no longer a problem nationally, they continue to be a thorn in the side of several state and local markets, particularly where a backlog of delayed distress has built up thanks to a lengthy foreclosure process,” said Daren Blomquist, vice president at RealtyTrac, in a prepared statement.
In June, the number of U.S. properties with foreclosure filings hit a six-and-a-half-year low. The total, at 127,790 in the month, was down 14 percent from the previous month and was down 35 percent from a year prior.
Florida, Nevada, Illinois, Ohio and Georgia had the top five state foreclosure rates for the first half of the year, according to RealtyTrac, while five metro areas in Florida had top five metro foreclosure rates.
In the Durham-Chapel Hill metro area, which includes Durham as well as Orange, Chatham and Person Counties, there were 396 properties that had foreclosure flings in the first six months of the year.
Durham County was ranked as No. 25 out of the state’s 100 counties for its property foreclosure filing rate of one in every 427 housing units with a filing. In the metro area, it the largest number of properties with a filing in the metro area, at 279. That total was down about 35 percent compared with the same period last year.
The number of properties with a filing in Orange County was down 20 percent to 36. The county was ranked as No. 75 out of the state’s 100 counties for its property foreclosure filing rate.
Chatham, which was ranked as No. 46 for its property filing rate, saw a 41 percent uptick in the period to 41. Person County’s total number of properties with a filing grew 48 percent to 40. The county ranked as No. 32.
For information, go to the website http://www.realtytrac.com/content/foreclosure-market-report/midyear-2013-us-foreclosure-market-report-7794.