Raleigh-Durham Foreclosure Statistics

2024 Raleigh-Durham Foreclosure Statistics

  1. Foreclosure filings in North Carolina escalated by approximately 85% year-over-year.
  2. In the state of North Carolina, one out of every 8,175 housing units is currently undergoing foreclosure.
  3. North Carolina ranks 26th in the U.S. for its foreclosure rate.
  4. While foreclosure completions are at their highest since March 2024, they are still less than half of the pre-pandemic levels of January 2020.
  5. Foreclosure activity in 2024 is expected to remain below historically normal levels until the year’s end.
  6. Programs aiding homeowners in preventing foreclosure during COVID-19 concluded, leading to a surge in foreclosures in the Triangle.
  7. Foreclosures in Durham County saw a 150% increase, while Wake County experienced a 66.67% rise from the previous quarter.
  8. In January 2024, 304 foreclosure notices were issued in North Carolina.
  9. Investor-owned properties in North Carolina increased to 112 in January 2024 from 93 in December 2023.

The foreclosure statistics from Raleigh-Durham real estate provide significant insights for real estate stakeholders in North Carolina, including investors, potential home buyers, and property sellers. These insights are particularly relevant given the recent surge in foreclosure rates in the state.

The sharp increase in foreclosure filings in North Carolina, particularly in the Raleigh-Durham area, can be a double-edged sword for investors. On the one hand, it presents an opportunity to acquire properties at potentially lower prices, as financial institutions often look to sell foreclosed properties swiftly. This can lead to lucrative deals, especially for investors focused on flipping or renting properties. On the other hand, a high rate of foreclosures can signal a cooling housing market, which might lead to a decrease in overall property values and rental rates. Investors need to perform thorough market analysis and be cautious about the locations they choose to invest in, as these trends will not affect all areas equally.

Key Raleigh-Durham Foreclosure Stats



  1. Notices of default in North Carolina decreased to 245 in January 2024 from 291 in December 2023.
  2. In January 2024-2025, North Carolina experienced 2,293 foreclosure filings.
  3. The foreclosure filings in North Carolina were 1,840 in January 2019.
  4. North Carolina’s real estate value was estimated at $1.1 trillion at the end of 2023.
  5. Raleigh homes alone were valued at $201 billion at the end of 2023.
  6. In January 2024, the Raleigh area had 28 active foreclosure proceedings.
  7. During the same period, Durham-Chapel Hill had eight foreclosure proceedings.
  8. Greensboro-High Point experienced 23 foreclosure proceedings in January 2024.
  9. Fayetteville and Jacksonville had 31 and 18 foreclosure proceedings in January 2024.
  10. In January 2024, the Raleigh-Cary area had 239 total foreclosure proceedings.


For those looking to purchase a home in North Carolina, the increase in foreclosures can lead to more affordable options in the housing market. However, this benefit comes with caution. Buying a foreclosed property often involves additional complexities and potential risks, such as properties being sold “as-is” without any seller disclosures. Additionally, if the increase in foreclosures leads to a general decline in housing prices, buyers might face the risk of their new home losing value in the short term. Therefore, potential buyers should assess the long-term value of their investment and consider factors like neighborhood stability and future market potential.

Sellers in North Carolina might find the increased foreclosure rates challenging, especially if they are in areas with a high concentration of such properties. An influx of lower-priced, foreclosed homes can saturate the market, potentially driving down overall property values and making it harder to sell homes at desired prices. However, sellers in less affected areas or those offering properties with unique features may still be able to achieve favorable sale terms.

More North Carolina Facts


  1. The Raleigh-Cary area recorded 208 foreclosure proceedings in January 2023.
  2. In January 2024, the Raleigh-Cary area saw a total of 100 foreclosure proceedings.
  3. Durham-Chapel Hill had 52 total foreclosure proceedings in January 2024.
  4. In January 2019, Durham-Chapel Hill recorded 34 foreclosure proceedings.
  5. Durham-Chapel Hill experienced 117 foreclosure proceedings in January 2024.
  6. Foreclosure rates across North Carolina surged by nearly 60% between November 2023 and November 2024.
  7. The statewide foreclosure rate in North Carolina was one in every 5,527 housing units.
  8. The foreclosure rate in North Carolina ranked 24th nationwide.
  9. One in every 6,000 housing units faced foreclosure in the Durham-Chapel Hill area.
  10. The Raleigh-Cary area had one in every 7,894 housing units undergoing foreclosure.
  11. Foreclosure proceedings in the Raleigh-Cary area decreased by 43.41% month-over-month.
  12. The Jacksonville, NC, area ranked 6th nationwide, with one in every 2,215 housing units in foreclosure.


Overall, the rise in foreclosures in Raleigh-Durham and broader North Carolina is a significant indicator of market shifts. While it opens up opportunities for some, it also brings challenges and requires careful consideration and strategy from all parties involved in the real estate market. Staying informed and adaptable to changing market conditions is crucial for anyone looking to engage in North Carolina’s real estate sector.

Cited Sources


  • https://abc11.com/foreclosure-wake-county-housing-market-rate/12694405/
  • https://www.wral.com/foreclosure/18156562/
  • https://www.axios.com/local/raleigh/2023/12/13/predictions-for-the-triangles-housing-market-in-2024
  • https://www.houzeo.com/blog/north-carolina-real-estate-market/
  • https://www.nccourts.gov/documents/publications/foreclosure-filings
  • https://abc11.com/housing-market-interest-rates-mortgage-raleigh-homes/14257673/
  • https://www.nolo.com/legal-encyclopedia/foreclosure-rates-2023.html
  • https://wraltechwire.com/2023/01/12/foreclosures-spike-123-in-nc-149-in-raleigh-as-pandemic-moratoriums-end/
  • https://www.sofi.com/learn/content/foreclosure-rates-for-50-states/
  • https://www.noradarealestate.com/blog/raleigh-nc-real-estate-market/
  • https://wraltechwire.com/2022/12/09/foreclosures-surge-187-in-durham-33-in-raleigh-is-worst-over/