N.C. foreclosures down year-over-year

Foreclosures on N.C. homes fell 28.7 percent in April from a year ago, but rose 13.9 percent from March.

Some 2,784 N.C. homes were in foreclosure proceedings in April, or one in every 1,530 households.  North Carolina ranks 37th in the nation for the rate of filings, according to RealtyTrac Inc.

Foreclosures nationwide dropped 34 percent from April 2010 and fell 8.6 percent from March.  There were 219,258 filings last month across the nation, or one in every 593 households.

“Foreclosure activity decreased on an annual basis for the seventh straight month in April, bringing foreclosure activity to a 40-month low,” says James Saccacio, chief executive of RealtyTrac.  “This slowdown continues to be largely the result of massive delays in processing foreclosures rather than the result of a houseing recovery that is lifting people out of foreclosure.” 

Nevada continues to lead the country in foreclosures, with one in every 97 homes receiving a filing.  The state had 11,761 residential properties in foreclosure in April.

In contrast, Vermont had the lowest frequency with five filings.