By Amanda Hoyle – Triangle Business Journal
Foreclosure rates for home mortgages in North Carolina and its Triangle region have declined to less than one-third of the number of homes that were in some stage of the foreclosure process at the Triangle mortgage crisis peak in 2012, according to a review of data from property research firm CoreLogic.
North Carolina’s foreclosure rate dropped to 0.76 percent in June, compared to 0.93 percent the year prior, according to CoreLogic’s most recent report. That’s down from a rate of 2.36 percent of the state’s home mortgages that were in foreclosure in mid-2012. Nationally, the foreclosure rate in June was 1.28 percent, down from 1.7 percent the year prior.
In the Raleigh-Cary market, the foreclosure rate in June was 0.47 percent, down from 0.63 percent the year prior and down from 1.79 percent at the market’s peak. A higher percentage of the properties that are still pending foreclosure were located in 27610 ZIP code in east Raleigh and in rural parts of Franklin and Johnston Counties, according to CoreLogic’s data map.
In the Durham-Chapel Hill market, the foreclosure rate in June was 0.57 percent, down from 0.63 percent the year prior and down from 1.72 percent at the market’s foreclosure peak. A higher percentage of the properties that are still pending foreclosure were located in the 27231 ZIP code north of Hillsborough, the 27573 ZIP code around Roxboro and the western and southern parts of Chatham County.