The Winston-Salem metropolitan statistical area continued on its recent decline in foreclosure filings during the third quarter, a national real estate company said in a report timed for release today.
Attom Data Solutions reported that there were 510 filings in the five-county region, down 13.1 percent from a year ago and down 7.6 percent from the second quarter.
Forsyth County accounted for 358 filings, or 70.2 percent. The rest were 79 in Davidson County, 39 in Davie County, 19 in Stokes County and 15 in Yadkin County.
The Greensboro-High Point MSA also had a sizable decrease in both scenarios, down 10.1 percent from a year ago and down 23.7 percent from the second quarter.
Guilford County accounted for 423 of 560 filings, or 75.5 percent, along with 65 in Rockingham County and 62 in Randolph County.
For North Carolina as a whole, there were 6,827 filings in the third quarter, down 1.9 percent from a year ago and down 14.1 percent from the previous quarter.
The Winston-Salem MSA has shown significant improvement since the ending of the Great Recession, with 2,098 foreclosures in 2016.
The highest annual level of filings was 3,496 in 2010, along with 3,105 in 2012 and 2,987 in 2008.
Those figures do not include Davidson County, whose filings began being factored into the Winston-Salem MSA data in 2014.
By comparison, the highest annual level of filings in the Greensboro-High Point MSA was 4,631 in 2010. There were 2,406 filings in 2016.
“Legacy foreclosures from the high-risk loans originated between 2004 and 2008 have largely been cleared out of the distressed market pipeline,” said Daren Blomquist, a senior vice president at Attom.
“Meanwhile, loans originated during the housing boom of the last five years are posting foreclosure rates below historic averages, with the notable exception of FHA loans originated in 2014,” Blomquist said.
“Elevated foreclosure rates on 2014 vintage FHA loans reflect a gradual loosening of credit, as the sustained housing boom is slowly bolstering confidence and increasing risk tolerance in the real estate market,” he said.
The Charlotte-Concord-Gastonia MSA had 1,626 foreclosure filings in the third quarter, down 20.3 percent from a year ago and down 17.7 percent from the previous quarter. Mecklenburg County accounted for 711, or 43.7 percent.
The Durham-Chapel Hill MSA had 243 foreclosure filings, up 22.7 percent from a year ago, but down 15.3 percent from the previous quarter. Durham County accounted for 158, or 65 percent of the total.
The Raleigh-Cary MSA had 663 foreclosure filings, down 6.1 percent from a year ago and down 14.2 percent from the previous quarter. Wake County accounted for 505, or 76.2 percent.