The Raleigh-Cary Metropolitan Statistical Area finished middle of
the pack in a recent survey of foreclosure rates in the nation's
100 largest MSAs.
Raleigh-Cary had the 51st highest foreclosure rate in the RealtyTrac
ranking, which measured the number of homes entering some stage of
foreclosure in the 2006 third quarter.
According to the study, Raleigh-Cary recorded 862 total foreclosures
in the third quarter, or approximately one for every 382 households
in the area. Foreclosure activity in Raleigh-Cary was up nearly 6
percent from the second quarter.
The Raleigh-Cary foreclosure rate was slightly better than the national
foreclosure rate of one home for every 363 households.
More than 318,000 homes entered some stage of foreclosure during
the 2006 third quarter across the United States .
The Charlotte-Gastonia MSA reported the highest foreclosure rate
of North Carolina metros included in the report, with one foreclosure
for every 250 households. Charlotte ranked 33rd highest on the list.
Greensboro-High Point -- the only other North Carolina metro on the
list -- had the 16th lowest rate on the survey, with one foreclosure
for every 923 households.
The Detroit-Livonia-Dearborn MSA in Michigan posted the worst foreclosure
rate in the nation, with 10,316 homes entering foreclosure during
the third quarter, or approximately one for every 80 households.
RealtyTrac is an online marketplace for foreclosures.
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