Charlotte foreclosure filings drop 10.9% in June

07/17/2014 1:22 PM

07/17/2014 1:23 PM

Charlotte-area foreclosure filings fell 10.9 percent in June from a year ago, as activity nationally dipped to its lowest level in eight years, a report Thursday showed.

There were 754 properties in the Charlotte region with a foreclosure filing – defined as default notices, scheduled auctions and bank repossessions – for the month, RealtyTrac said.

Nationwide, filings were reported on 107,194 properties – down 16 percent from a year ago and the lowest amount since July 2006, before the housing crisis, according to RealtyTrac.

“Nationwide foreclosure activity in June reached an important milestone, dropping to levels not seen since before the housing price bubble burst in August 2006,” Daren Blomquist, RealtyTrac vice president, said in a statement. “Over the next six to nine months nationwide foreclosure numbers should start to flat-line at consistently historically normal levels.”

In the Charlotte region, one in every 978 properties had a foreclosure filing in June, according to the report. Nationwide, one in every 1,228 properties had a filing.

Foreclosure filings peaked in the Charlotte region at 2,141 in August 2009. June’s filings marked the lowest level since 676 in February.

Real estate insiders say fewer properties have been falling into foreclosure as homes continue to post large annual gains in value.

April was the 26th month in a row the Charlotte region has posted year-over-year appreciation, according to the latest Standard & Poor’s/Case-Shiller index. Low supplies of homes for sale have helped push up prices in Charlotte and elsewhere.

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