North Carolina foreclosure rate outpaces national average

Foreclosure activity in North Carolina grew faster than the national average in October, according to data released Thursday by RealtyTrac.

There was one foreclosure filing for every 979 households in the month, the California firm says. That's up 19 percent from September, outpacing the national growth rate of just 2 percent.

In Mecklenburg County, foreclosures increased 14.5 percent in October from September. Year over year, Mecklenburg foreclosures were up 145 percent to 899 filings in October compared with the same month last year.

Statewide, foreclosures were up 146 percent year over year. Nationally, they were up 94 percent.

The numbers reflect increased pressure on the N.C. housing market. The Federal Reserve's latest "beige book" report on economic conditions says housing inventories have jumped in the region that includes the Carolinas, Maryland and Virginia.

The nation's top state for foreclosures was Nevada, which has held the spot for the last 10 months. The state saw one foreclosure filing for every 154 households, RealtyTrac says.

California, Florida, Ohio and Georgia also had high rates of foreclosures.

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