Guilford County, in the Greensboro MSA, had 26 new foreclosure starts. Mecklenburg County, in the Charlotte MSA, had 27 new foreclosure starts. Foreclosures rose month-over-month in 34 of the 74 counties.Ĭumberland County, in the Fayetteville MSA, saw the most number of new foreclosure starts in August 2021, with 29. But new foreclosures decreased in 26 of the 74 North Carolina counties. But it’s likely that foreclosures will remain below normal levels at least through the end of the year.”Īnd there is some variability in the data set, which ATTOM Data Solutions shared with WRAL TechWire upon request.įlip or flop? For real estate investors in NC, location mattersĪt the county level, new foreclosure starts are up 400% in Lincoln County, in the Charlotte MSA, and also up 400% in Catawba County, in the Hickory MSA.
“We’ll continue to see foreclosure activity increase over the next three months as loans that were in default prior to the moratorium re-enter the foreclosure pipeline, and states begin to catch up on months of foreclosure filings that simply haven’t been processed during the pandemic. “As expected, foreclosure activity increased as the government’s foreclosure moratorium expired, but this doesn’t mean we should expect to see a flood of distressed properties coming to market,” said Rick Sharga, Executive Vice President at RealtyTrac, an ATTOM company, in a statement. Year-over-year, foreclosure starts are up by 60%, the study also found. That surge in new foreclosure starts comes in the month following the end to the federal government’s foreclosure moratorium due to the COVID-19 pandemic, a statement announcing the data noted. But the news wasn’t as grim in North Carolina which showed a 19.72% jump and more than 17% year-over-year. RALEIGH – Nationwide, the number of started foreclosure proceedings increased by 27% in August compared to July, a report from ATTOM Data Solutions found.
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