Tuesday, September 4, 2007

Wake County Foreclosures Increasing

The number of foreclosed properties more than doubled in the Raleigh-Cary metropolitan statistical area (MSA) the first six months of 2007.

According to RealtyTrac, a California company that tracks such data, the MSA - which includes Wake, Franklin and Johnston counties - saw 2505 foreclosure filings from January to June, or one filing for every 158 households.

Overall, 1906 properties had foreclosure filings on them, up 105 % from the same six-month period in 2006.

There were multiple foreclosure filings on some properties, accounting for the difference between the number of foreclosure filings and the number of properties hit with foreclosure filings.

The Raleigh-Cary MSA was No. 60 out of the nation's 100 biggest MSAs in foreclosures per household. The Charlotte-Gastonia MSA was No. 38, while the Greensboro-High Point MSA was No. 70.

The ignominious honor of being No. 1 went to Stockton, Calif., which had one foreclosure filing for every 27 households. The Detroit area was No. 2, while Las Vegas was No. 3.


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