Real Estate Pro Articles
   
   

Foreclosed Homes in North Carolina Decline



[Valid RSS feed]  Category Rss Feed - http://www.realestateproarticles.com/rss.php?rss=265
By : Scott Zahid    99 or more times read
Just like in many other states, the volume of foreclosed homes in North Carolina fell in November, according to data released by a national Real Estate tracking firm. There were 4,083 households that were foreclosed in the state last month. It was 15% lower compared to foreclosed properties recorded in October. In contrast, it was 25% higher compared to foreclosures in November 2009.

The number of foreclosed homes in North Carolina was still high despite the monthly decline. It was estimated that one out of 1,029 homes in the state underwent any form of foreclosure in the period. North Carolina ranked as the 31st state with the highest rates of foreclosure in the country. It is expected that beginning January, the volume of foreclosed homes in the area would rebound and rise significantly when banks resume halted foreclosures.

Meanwhile, foreclosures also weakened in another state, Louisiana. The number of foreclosed homes for sale in Louisiana dropped to 1,418 properties. That was 25% lower than foreclosures in the state in October. It was about 21% down from state foreclosures in November 2009.

It was estimated that one in every 1,328 homes was made part of foreclosed homes for sale in Louisiana. The rate is expected to pick up in the coming months, starting January. Foreclosed homes in the state are also set to increase when lenders fully implement resumption of foreclosures after a temporary halt due to the recent foreclosure scandal.

Nationwide, rate of foreclosures dropped 21% from October last November. It fell about 14% compared to the volume of foreclosed homes in November 2009. It was estimated that one per 492 homes got into foreclosure during the period. There were a total of 262,339 foreclosed properties across the US last month.

The volume of foreclosed homes in North Carolina is an indication that there are still many opportunities for homebuyers to purchase foreclosures at lower prices. The same goes for foreclosed homes for sale in Louisiana.


Related Articles



Actions
Print This Article
Add To Favorites



Sponsors

 

 

© All rights reserved to Real Estate Pro Articles